Australian Treasurer Joe Hockey has extended the deadline for a foreign investment decision on Archer Daniels Midland's (ADM) proposed A$3bn ($2.8bn) take over of grain handler GrainCorp until 17 December.
The decision on the deal will be the first major move for the Foreign Investment Review Board (FIRB) and Hockey since the election of new conservative government in September.
In a statement, Hockey said, "Given the size of this transaction and the complex nature of the issues involved, I have decided to extend the statutory time period."
"This will allow sufficient time for the new government to carefully consider all the relevant issues and advice from the Foreign Investment Review Board before making a decision," he added.
The new time frame would allow FIRB to negotiate conditions it might require on the deal.
A spokesperson for ADM said that the company is committed to working constructively with Australia's FIRB.