Foreign investment and the popularity test: Does GrainCorp set a new precedent?
Wilson, J.D. (2013) Foreign investment and the popularity test: Does GrainCorp set a new precedent? The Conversation .
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At any other time, Friday’s decision by treasurer Joe Hockey to reject Archer Daniels Midland’s (ADM) A$3.4 billion takeover bid for GrainCorp might have been just another controversial foreign investment decision.
Indeed, were it not for a widely reported split in the Coalition over the proposal, the decision may not have made it out of the business section of the national press.
However, inserted within the ADM-GrainCorp decision was a never-before-seen rationale for rejecting a foreign investment: the tenor of community attitudes and level of popular support. This seemingly minor caveat may radically change the way in which foreign investment reviews are conducted by the Coalition government in coming years.
|Publication Type:||Non-refereed Article|
|Murdoch Affiliation:||Asia Research Centre|
|Publisher:||The Conversation Media Group|
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