Australian Agriculture Minister Joel Fitzgibbon strongly suggests that the Australian government will approve the $3 billion takeover of GrainCorp by U.S.-based food processing company Archer Daniels Midland adding that the Australian agriculture industry needs to accept foreign investments in order to capitalize on the opportunities that the growing Asian market offers. The takeover of GrainCorp is still awaiting approval from the Foreign Investment Review Board (FIRB) and Australian Tresurer Chris Bowen.
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