ADM Made Buyout Approach to Argentina’s Molinos
ADM would like to buy company’s livestock feed and soyoil manufacturing plant
According to an exclusive report at Reuters, Archer Daniels Midland Co. (ADM) has approached Argentine soy crusher Molinos Agro about buying the company’s livestock feed and soyoil manufacturing plant, and talks may continue, three sources said.
Molinos and other Argentine soy crushers have been pummeled by fallout from the U.S.-China trade policy war which has given U.S. crushers a competitive advantage.
The discussions began last year and then stalled over the price that ADM would pay for Molinos, a Buenos Aires-based industry source with knowledge of the situation told Reuters.