Summa Group won't likely bid for GrainCorp after initially considering company for acquisition, according to source

LOS ANGELES , November 6, 2012 () – According to a source, Russia-based Summa Group won't likely bid for Australia-based GrainCorp Ltd. after initially considering the company for acquisition, The Wall Street Journal reported Nov. 1.

According to the source, Summa asked Russian state development bank Vnesheconombank to finance the deal. However, the company is now unlikely to pursue the bid because of several different factors.

The primary source of this article is The Wall Street Journal, New York, New York, on Nov. 1, 2012.

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