Viterra’s plan to build the world’s largest canola processing facility in Regina could be crushed, according to a new report.
Tag Archives Bunge and Viterra merger
Crushed dreams
Viterra’s planned canola processing facility in Regina is unlikely to go ahead
Bunge-Viterra approval ignores farmers’ concerns
Prairie farmers must be bitterly disappointed in the news earlier this month that the federal government is approving Bunge’s acquisition of Viterra, despite their strong opposition to the deal. One can’t help but wonder what more they could have done to make Ottawa recognize their concerns. Sure, the usual conditions were put on the transaction, […] Read more
Feds approval of Bunge-Viterra merger frustrates farmers
Bunge will be required to divest of six grain elevators in Western Canada and invest at least $520 million in Canada
Glacier FarmMedia – Following the approval of Bunge’s acquisition of Viterra on Jan. 14, stakeholders made their voices heard in a wave of reactions to the controversial merger. The acquisition of Regina-based Viterra by global agribusiness and food company Bunge has been in the works for some time, and the move has been met with […] Read more
Canada clears Bunge-Viterra merger
OTTAWA (Reuters) — Canada on Tuesday approved with conditions Bunge’s US$34 billion merger with Glencore-backed Viterra, clearing one of the final remaining obstacles for a global agriculture tie-up that is unprecedented in dollar value. The conditions for the approval include Bunge’s divestiture of six grain elevators in Western Canada and a binding commitment from Bunge […] Read more
Proposed merger of grain giants betrays firm’s Prairie origins
As American grocery buyers await a Federal Trade Commission verdict on Kroger’s two-year-old, US$24.6 billion bid to buy competitor Albertsons, the European Commission took just 35 days to give its blessing to the merger between two of the world’s largest grain merchandisers, Bunge and Viterra. The mega-deal, valued at about $34 billion at the time […] Read more
Corporate merger approvals need new approach
Will Canada approve, deny or put conditions on Bunge’s proposed takeover of Viterra? We don’t know yet, but on Aug. 1, the European Commission approved Bunge’s acquisition of Viterra on the condition it sells Viterra’s oilseed businesses in Hungary and Poland, along with logistical assets linked to these operations. “These commitments fully address the competition […] Read more
Bunge waits for merger decision
SASKATOON — Bunge is confident it will gain Canadian regulatory approval of its attempt to acquire Viterra. Most jurisdictions where the companies operate have already approved the US$34 billion deal. Canada is one of the last ones remaining. Related stories: “We continue to engage with the Government of Canada and expect to address questions and […] Read more
EU clears Bunge and Viterra’s $34 billion deal
BRUSSELS, Aug 1 Reuters – The European Commission cleared the US$34 billion merger deal between Bunge BG.N and the Glencore-backed company Viterra. “The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Viterra Limited by Bunge Global S.A. The approval is conditional upon full compliance with the commitments offered by the […] Read more
EU gives Bunge-Viterra merger conditional OK
BRUSSELS, Belgium (Reuters) —Bunge and Viterra’s US$34 billion merger deal is heading toward conditional European Union antitrust approval, a person with direct knowledge of the matter said July 24. The companies announced the deal a year ago. Earlier this month they offered to sell Viterra’s crush and refining plants for oilseeds in Hungary and Poland […] Read more
Bunge, Viterra offer EU concessions
BRUSSELS, Belgium — Bunge and Glencore-backed Viterra have offered concessions aimed at winning European Union antitrust approval for their US$34 billion merger, the European Commission website showed last week. The companies announced their merger a year ago in a challenge to global giants Archer-Daniels-Midland and Cargill. The commission, which did not provide details of the […] Read more
