Viterra’s board of directors, in response to expressions of interest in buying the company, has created a process that includes confidentiality agreements being entered into and the provision of due diligence.
Trading was halted early Thursday in advance of Viterra making this announcement.
There is much media and industry speculation about who the suitors are for Canada’s largest grain company. Viterra warned in today’s statement that the speculation might not be true.
The following is Viterra’s statement:
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“Viterra Inc. at the request of Market Surveillance on behalf of the Toronto Stock Exchange, acknowledges that, in response to expressions of interest from third parties to acquire the company, a process has been established by the board of directors of Viterra, which includes confidentiality agreements being entered into and the provision of due diligence.
“Viterra is aware of press reports speculating about, among other things, the process, parties involved and third parties expressions of interest of at least Cdn$16 per Viterra common share. Viterra cautions investors not to rely on these press reports as there can be no assurance that a transaction will occur and that if one does occur, there can be no assurance at what price it will be completed.
“Viterra has engaged financial and legal advisors to provide support with this process.
“A further announcement will be made if appropriate.”
