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
Tag Archives Bunge
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
Bunge shares hit on profit miss
REUTERS — Bunge missed Wall Street expectations for second-quarter profit late last month as narrower processing margins hurt the grain trader. Ample global supplies of soybeans and corn are keeping crop prices near four-year lows and discouraging farmers from selling their harvests, squeezing global traders and oilseed processors. Adjusted earnings in Bunge’s agribusiness segment, its […] Read more
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-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
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
G3 caught in middle of merger
SASKATOON — There is speculation that Bunge may have to sell its ownership stake in G3 Global Holdings to appease Canadian regulators scrutinizing its proposed takeover of Viterra. G3 Global Holdings is the majority owner of G3 Canada Ltd., which operates 19 grain elevators in Western Canada and one in Quebec and port terminals in […] 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
