UPDATE 1-Archer Daniels bids $2.8 bln for Graincorp
SYDNEY, Oct 22 (Reuters) - Archer Daniels Midland has bid A$2.68 billion ($2.77 billion) for Australian rival Graincorp, a 33 percent premium to the last traded share price, as the U.S agriculture giant seeks to push ahead in the global race for grains trading power.
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