ADM may purchase Minnesota Corn Processors

US-based Minnesota Corn Processors (MCP) has announced that it is engaged in preliminary discussions with Archer Daniels Midland Company (ADM) regarding a potential sale of MCP to ADM.

If the discussions result in a definitive agreement, the deal would be subject to a number of conditions, including the approval by MCP​'s board of directors, shareholders and appropriate regulatory agencies.

MCP's board has engaged the investment banking firms of Morgan Lewis Githens & Ahn and ING Capital as financial advisors to assist MCP in any potential transaction.

Minnesota Corn Processors is a corn wet-miller with refineries in Marshall, Minnesota and Columbus, Nebraska. The company produces corn sweeteners and starch products for sale into the beverage and food industries, and owns and operates a nationwide network of 19 corn sweetener distribution terminals. In addition, the company produces starches for sale into the paper and corrugating industries, ethanol, feed products and road de-icers.