SYDNEY, Australia (Reuters) — GrainCorp’s chief executive officer said fears that Australia risks its food security by allowing a $2.8 billion bid for the grain handler by Archer Daniel Midland Co. are misplaced.
Some Australian farm groups and politicians from within the ruling Liberal-National coalition oppose the takeover, which is awaiting a final decision by treasurer Joe Hockey.
“Australia of any country in the world has the least to be concerned about when it comes to food security,” GrainCorp CEO Alison Watkins said.
