Grain Trader Viterra in Talks to Merge With Rival Bunge

According to a person familiar with the matter, there is no certainty Viterra will be able to reach an agreement on the terms of a deal.

Mississippi River at Hannibal MO - Bunge Elevator - Barges - Grain elevator- Transportation - Grain Handling-Lindsey Pound
Mississippi River at Hannibal MO - Bunge Elevator - Barges - Grain elevator- Transportation - Grain Handling-Lindsey Pound
(Lindsey Pound)

Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd, according to a person familiar with the matter.

There is no certainty that Viterra, part-owned by Switzerland-based mining and trading giant Glencore, will be able to reach an agreement on the terms of a deal, the source said, requesting anonymity as these discussions are confidential.

Shares of Bunge were trading at $92.89 apiece on Thursday, valuing the company at about $14 billion.

Viterra, formerly known as Glencore Agriculture, made the headlines in 2017 for a failed takeover approach to Bunge, one of the giant names of global grain trading, then valued at $11 billion.

In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss “a possible consensual business combination.”

Glencore had publicly said it was reviewing options for its interest in Viterra, looking to unlock more value.

Glencore, Viterra and Bunge declined to comment. Bloomberg first reported on the talks between Viterra and Bunge.

(By Anirban Sen; Additional reporting by Deep Vakil in Bengaluru, Gus Trompiz in Paris, Clara Denina in London and Karl Plume in Chicago)

AgWeb-Logo crop
Related Stories
The debt of the business is more than $900 million, and the 19 property listings are valued at approximately 1.05 billion Canadian.
Secretary Brooke Rollins announced an initial bilateral agreement that could boost total U.S. ethanol exports by 32% as Mexico explores expanded fuel blending.
Farmers have to manage 2027 costs around a supply crunch driven by the Strait of Hormuz, European gas prices, and falling corn prices. The FIELDS awards committed $1.34 billion to eight domestic fertilizer projects on Oct. 22, and Josh Linville of StoneX says it is a real step in the right direction that still falls well short of what farmers need.
Read Next
With the lame-duck session looming, lawmakers scramble to mend a divided Ag Committee over SNAP funding as insiders predict another extension.
Get News Daily
Get Market Alerts
Get News & Markets App