John McMillin, a Prudential Securities analyst, said the fines merely wiped out the company's ill-gotten profit. ``If you had told me they could settle up things for less than $200 million,'' he added, ``I would have been delirious.''
Analyst Richard Elam of Everen Securities Inc. said the settlement assures shareholders that the scandal won't ``overwhelm the company,'' which he said has cash reserves of as much as $2 billion.
ADM announced the settlement on the federal Columbus Day holiday, upstaging Justice Department plans to trumpet the fine at a Washington news conference today.
After the announcement, ADM stock closed at $21.75, up $1.125 per share on the New York Stock Exchange.
The settlement doesn't appear to protect two company executives who remain under federal grand jury investigation - vice chairman Michael Andreas (the son of chairman and chief executive Dwayne Andreas) and vice president Terrance Wilson.
It also does not hinder scores of civil lawsuits filed by shareholders and customers.
ADM said it agreed to plead guilty to charges of ``anticompetitive conduct'' in markets for two corn-derived products - citric acid used in soft drinks and detergents, and lysine, an animal-feed additive.
It said it has agreed to pay fines of $70 million in the lysine case and $30 million in the citric acid case. ADM said the agreement ``brings to a close all Department of Justice investigations of alleged misconduct by ADM,'' including a similar probe involving high-fructose corn syrup, used to sweeten soft drinks and other foods.
ADM's statement did not mention Wilson and Andreas. Lawyers for both men did not return telephone calls seeking comment.
Scott Lassar, the federal prosecutor in Chicago heading the lysine case, said he could not comment until after a Washington news conference today.
