Archer Daniels Midland Company (NYSE: ADM) today 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 common stock no later
than on June 1, 2011. ADM intends to use substantially all of the net
proceeds from this offering for general corporate purposes, including
repayment of short-term indebtedness and investment in long-term growth
ADM has appointed Citi, J.P. Morgan Securities Inc., Banc of America
Securities Inc. and Deutsche Bank Securities Inc., as joint book-running
managers for the offering.
This announcement does not constitute an offer to sell or a solicitation
of an offer to buy these securities, nor shall there be any sale of
these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. The
offering of these securities may be made only by means of a prospectus
and a related prospectus supplement, copies of which may be obtained
when available from Citi at Brooklyn Army Terminal, 140 58th Street, 8th
Floor, Brooklyn, New York 11220, telephone (877) 858-5407; and J.P.
Morgan Securities Inc. at 4 Chase Metrotech Center, CS Level, Brooklyn,
New York 11245, Attention: Prospectus Department, telephone (718)
242-8002, email: firstname.lastname@example.org.
About Archer Daniels Midland Company
Archer Daniels Midland Company (ADM) is the world leader in BioEnergy
and has a premier position in the agricultural processing value chain.
ADM is one of the world’s largest processors of soybeans, corn, wheat
and cocoa. ADM is a leading manufacturer of biodiesel, ethanol, soybean
oil and meal, corn sweeteners, flour and other value-added food and feed
ingredients. Headquartered in Decatur, Illinois, ADM has over 27,000
employees, more than 240 processing plants and net sales for the fiscal
year ended June 30, 2007 of $44 billion. Additional information can be
found on ADM’s Web site at http://www.adm.com.
This press release includes forward-looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, that
are subject to risks, uncertainties and other factors, including the
current market demand for these types of securities and the securities
of ADM and the negotiations between ADM and the underwriters. These
risks, uncertainties and other factors could cause actual results to
differ materially from those referred to in the forward-looking
statements. The reader is cautioned not to rely on these forward-looking
statements. Other risks that could impact the offering are described in
detail in the ADM Annual Report on Form 10-K for the fiscal year ended
June 30, 2007 as filed with the U.S. Securities and Exchange Commission.
All forward-looking statements are based on information currently
available to ADM and ADM assumes no obligation to update any such
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