Archer Daniels Midland Company (NYSE:ADM) is in final stages of negotiations with the world’s leading cocoa trader, Cargill Inc. to sale its coca business, reported Reuter, citing sources familiar with the matter as saying. If the deal materializes then it would create a giant in the Cocoa industry since it is dominated by two firms. Although financial details of the possible transaction were not known, analysts have valued ADM’s cocoa business unit at as much as $2 billion. The sources said that the deal is expected to be announced within few days.
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