Archer Daniels Midland Company (“ADM”) announced that it has tendered
all of the limited voting common shares (the “Common Shares”) of United
Grain Growers Limited, doing business as Agricore United (“AU”), that it
beneficially owns or controls to the revised take-over bid made on May
17, 2007 by Saskatchewan Wheat Pool Inc. (the “Revised SWP Offer”) for
all of the outstanding Common Shares for C$20.50 in cash per Common
Share. ADM beneficially owns or controls 16,635,497 Common Shares,
representing approximately 28% of the outstanding Common Shares.
In accordance with the terms of the Revised SWP Offer, the tendering of
ADM’s Common Shares to the Revised SWP Offer constitutes the granting of
a proxy to vote for the continuance of AU under the Canada Business
Corporations Act (the “Continuance”) and the plan of arrangement
involving, among others, AU, holders of Common Shares and Saskatchewan
Wheat Pool Inc. under the Canada Business Corporations Act (the
“Arrangement”).
ADM has tendered all of the Common Shares it beneficially owns or
controls to the Revised SWP Offer and will vote for the Continuance and
the Arrangement in accordance with ADM’s existing contractual
arrangements with AU.
For further information, or to obtain a copy of the report filed with
the Canadian securities regulatory authorities, please contact:
ADM Media Relations
217/424-5413
media@adm.com