6/18/2004

Archer Daniels Midland said it will pay $400 million to settle a price-fixing case involving high-fructose corn syrup. The money will go to companies such as Coca-Cola and PepsiCo that use the sweetener in formulating their products. In a statement, ADM Chairman G. Allen Andreas said, "In light of the potential exposure inherent in litigation, the board of directors concluded that it was in the best interests of the Company to dispose of this matter," adding, "We are pleased to have reached a resolution with our customers in the food and beverage industries."

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