ADM says will hold on to dry mill ethanol plants as it seeks better shareholder value

In Illinois, Archer Daniels Midland’s CEO said the company is holding off on selling its dry mill ethanol plants in hopes of ensuring more value for shareholders when potential new tax structures come into place such as the proposed cut in corporate tax rates to 20% from the current 35% as proposed by the Speaker of the House, saying that the offers received so far are not representative of the assets’ value to the company. Negotiations with the bidding companies are ongoing but no decision has yet been taken.