WASHINGTON - Archer Daniels Midland Co said it raised its stake in IBP Inc to 8,877,600 common shares or 9.644 percent from 8.375 percent held previously.
In a filing with the Securities and Exchange Commission, the Decatur, Ill., food conglomerate said its latest transactions include the purchase of 1,435,500 common between Sept 5 and Oct 30 at prices ranging from $22.125 to $23.75 per share.
Archer Daniels said it holds the stake in the Dakota City, Neb., meat packing and processing company for investment purposes.
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