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Hockey kills GrainCorp takeover by ADM: Experts react

Botterill, L., Wilson, J.D., McKenzie, M., Batt, P.J. and King, S. (2013) Hockey kills GrainCorp takeover by ADM: Experts react. The Conversation .

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Federal Treasurer Joe Hockey has rejected the proposed takeover of GrainCorp by US grain handling giant Archer Daniels Midland, arguing the takeover would not be in the public interest.

Mr Hockey said the deal was one of the most complex to come before the Foreign Investment Review Board, and while Australia needed to attract strong inflows of foreign investment, the level of public concern about the deal meant allowing it to proceed could risk undermining public support for foreign investment.

Mr Hockey also flagged the need for a “transition towards more robust competition”, and that a more competitive network was still emerging.

We asked the experts to respond to today’s announcement.

Item Type: Non-refereed Article
Murdoch Affiliation(s): Asia Research Centre
Publisher: The Conversation Media Group
Copyright: The Author
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