Pharma Investments, Ventures & Law Weekly
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Archer Daniels Midland Company
ADM Launches Equity Units Offering of up to $2 Billion
June 15th, 2008
Archer Daniels Midland Company (NYSE:ADM) announced that it plans to offer and sell, subject to market and other conditions, 35,000,000 equity units and to grant the underwriters an option to purchase 5,000,000 additional equity units to cover over-allotments. Each equity unit has a stated amount of $50, for a possible aggregate offering amount of $2 billion if the underwriters exercise their over-allotment option in full. The equity units will initially consist of a contract to purchase ADM common stock and a 5.0% beneficial ownership interest in a $1,000 principal amount debenture due June 1, 2041. Under the purchase contract, holders are required to purchase ADM...
Source: Pharma Investments, Ventures & Law Weekly (2008-06-15)
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