In a recent op-ed, Gregory Heckman, chief executive officer of Bunge, defended the proposed merger between Bunge and Viterra, arguing that the combination would mean investment and growth for Canadian agriculture, particularly in Saskatchewan. While the optimism from a corporate standpoint is expected, given that they are working to maximize profitability for shareholders, there are […] Read more
Tag Archives Bunge and Viterra merger — page 2
Bunge-Viterra combination warrants careful scrutiny
Bunge’s proposed acquisition of Viterra has caused quite a stir in farm circles, and rightly so. This is not your run-of-the-mill business deal. It could potentially reshape the future of grain handling and processing in Western Canada. The acquisition or merger or whatever else it may be called, deserves careful attention by regulators, politicians and […] Read more
Bunge CEO speaks out on merger
Prairie farmers, stakeholders and communities want to know how and why the proposed Bunge-Viterra merger would be good for Canada. We’ve listened to your concerns and answered your questions, but I want you to hear the answers directly from me. The new company will be committed to Canadian workers and the transaction will not result […] Read more
Bunge-Viterra deal sheds temporary light on grain system
There’s been renewed talk recently about grain company power and concentration. This is due to Bunge’s proposed takeover of Viterra, which has elicited concern from farm groups, brought alarming analysis from agricultural economists and provoked an investigation by the federal Competition Bureau. All grain farmers should read the bureau report. It lays out the elevator […] Read more
Fears surrounding Bunge-Viterra deal overblown
The proposed acquisition of Viterra by Bunge has generated a lot of heat in recent weeks. Some fears are valid, but many are overblown. The federal Competition Bureau has some serious concerns and has laid them out in a report. A number of farm organizations, including the Agricultural Producers Association of Saskatchewan, SaskWheat, Sask Barley […] Read more
Bunge-Viterra deal concerns Sask. politicians
The government says it is monitoring the situation as the proposed merger goes through a public assessment process
REGINA — Premier Scott Moe said the Saskatchewan government is closely watching the proposed Bunge-Viterra merger. He told reporters May 2 he and agriculture minister David Marit are waiting to see how the two companies respond to recent reports that say the deal would cost producers hundreds of millions of dollars and reduce competition. The […] Read more
Farmers retain role in G3 thanks to CWB legacy
Feds set up trust for producers when wheat board turned into G3 Canada, but farmers’ share has been steadily shrinking
SASKATOON — Farmers Equity Trust will not be one of the suitors for Bunge’s ownership stake in G3 Canada if the government forces the sale of those shares as part of its review of Bunge’s proposed takeover of Viterra. “The trust has no cash resources to invest that way, and we’re not permitted under the […] Read more
Reports raise alarm over Bunge-Viterra merger
Competition bureau, ag economists find significantly reduced competition, more costs to farmers if transaction proceeds
REGINA — Bunge and Viterra said last week they still expect the proposed merger of the two companies to proceed, even after a Competition Bureau of Canada review identified major concerns about reduced competition. A report by three University of Saskatchewan agricultural economists for four Prairie farm organizations reached the same conclusion. Richard Gray, James […] Read more
Bunge-Viterra merger concerns may force asset sales
WINNIPEG (Reuters) — Canada’s competition concerns about Bunge’s planned takeover of Viterra sets the stage for the companies to sell some assets to close the deal, experts say. Bunge chief executive officer Greg Heckman said remedies may be unnecessary. The Competition Bureau said earlier this week that it was worried about reduced competition to buy […] Read more
Bunge-Viterra merger worries competition bureau
UPDATED – April 24, 2024 – 0900 CST – OTTAWA (Reuters) — Canada’s Competition Bureau says it has found major competition concerns around U.S. grains merchant Bunge’s proposed acquisition of Glencore-backed Viterra, throwing an obstacle before a global agriculture merger that is unprecedented in dollar value. The deal would create a company worth $34 billion, […] Read more
