Summary: Archer Daniels Midland Co. is closer to making a huge expansion into Australia with a possible deal for a grain handler there called GrainCorp. Decatur, Ill.-based ADM has offered 12.20 Australian dollars ($12.54) to buy GrainCorp. That values GrainCorp at about $3.1 billion, including the portion of GrainCorp that ADM already owns.
