Glencore reportedly makes bid for Viterra

by World Grain Staff
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CALGARY, ALBERTA, CANADA — Glencore has reportedly made a $5.5 billion bid for Viterra, according to an article posted on the Sunday Telegraph newspaper’s web site on March 10.

On March 9, Viterra said in view of market activity in the company’s shares, it acknowledged that it received “expressions of interest from third-parties.” Viterra said a further announcement will be made if appropriate.

Viterra is one of three large grain handlers in Canada, and also owns grain handling assets in South Australia.

Glencore, the world’s largest diversified commodities trader, markets and produces crops, metals, minerals and oil. The company has said all along it wanted to grow its agricultural commodities business.

It has reportedly also expressed interest in U.S. energy and grains trader Gavilon Group. Glencore also is pursuing a $36 billion takeover of mining company Xstrata.

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