Harvard Endowment Fund

An American university is buying a New Zealand dairy farm for more than $28 million as officials and would-be overseas investors get ready for new rules.

New Zealand's Federated Farmers is welcoming the purchase of a big slice of farmland in central Otago by Harvard University for $34.1 million.

Agribusiness and global investors are scooping up farmland. Are corporate farmers the new colonialists? asks BusinessWeek