GrainCorp, ADM ready for long wait for China approval

Australia’s GrainCorp and US suitor Archer Daniels Midland are hunkering down for a long wait for Chinese regulatory approval after agreeing a A$3.0 billion (HK$24.80 billion) takeover deal on Friday.

In a sign of China’s growing scrutiny of global M&A deals, GrainCorp and ADM have tailored the deal to include an extra payment for shareholders from October to reflect an expected delay in approval from China’s Ministry of Commerce.

via Business feed http://www.scmp.com/business/companies/article/1223748/graincorp-adm-ready-long-wait-china-approval