Washington - Food conglomerate Archer Daniels Midland Co. said Wednesday it raised its stake in meat packing and processing company IBP Inc. to 13.331 percent, or 12,339,300 common shares.
In a filing with the Securities and Exchange Commission, Decatur, IL - based Archer said it bought 1,244,600 shares of Dakota City, NB -based IBP between May 8 and June 30 at prices ranging from $18.125 to $20.375 per share.
Archer Daniels said in a May 15 filing it had held a stake of 12.149 percent, or 11,244,700 shares.
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