The battle for GrainCorp seems to be over, with Treasurer Joe Hockey blocking the sale of the grain handler to US company Archer Dennis Midlands

Livewire Equities

The battle for GrainCorp seems to be over, with Treasurer Joe Hockey blocking the sale of the grain handler to US company Archer Dennis Midlands. The Treasurer called an early morning press conference in Sydney on Friday to say the bid was one of the most complex cases to come before the Foreign Investment Review Board. ''For me to reject this proposal, I had to determine that the acquisition of GrainCorp by ADM is contrary to the national interest,'' he said. ''Based on all the available information, I have now made that decision.''


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