ADM, Validus reach $127.5M deal for Crop Risk Services
February 01, 2017
Insurance | Decatur, IL | Corporate Acquisition
Archer Daniels Midland (NYSE: ADM) has agreed to sell its crop risk services business (CRS) to insurance and investment-services company Validus (NYSE: VR) for $127.5 million. Under the agreement, ADM and Validus will work together to offer crop insurance and grain marketing products to CRS customers. Stock in both companies rose marginally Tuesday with the news.