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
Tag Archives Bunge — page 3
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
Group tries to track rail cargo
LOS ANGELES, California (Reuters) — U.S. shoppers can easily track Amazon packages to their front door, but big railroad customers can’t see the real-time location of shipments of BMW luxury cars, fuel or fertilizer as they crisscross the country. A U.S. coalition of railroad executives and their customers are working to change that. The project, […] Read more
Bunge beats profit estimates
CHICAGO, Ill. (Reuters) — Bunge Global SA recently beat Wall Street estimates with a record fourth-quarter adjusted profit as strong oilseed processing results boosted its core agribusiness division. However, the company forecast a drop in adjusted profit in the year ahead due to narrowing crush margins. The fourth-quarter earnings results come as Bunge works to […] Read more
Bunge seeks antitrust approval for Viterra deal
MINNEAPOLIS, Minn. (Reuters) — Bunge has filed for regulatory approvals for its merger with crop handler Viterra in “major jurisdictions” in North and South America, Europe and China, and has gotten the green light from some of its smaller markets including Colombia, chief executive officer Greg Heckman said Nov. 2. The merger, which would create […] Read more
Bunge lifts 2023 outlook on vegoil success
CHICAGO, Ill. (Reuters) — Global crop trader and processor Bunge lifted its 2023 outlook on Oct 26 after its third-quarter profit topped Wall Street expectations, though earnings were lower year-on-year. Solid crushing results in Brazil, Asia and North America, and strong vegetable oil demand helped the world’s largest oilseed processor offset weaker results in Argentina, […] Read more
