Viterra responds to acquisition rumors

by World Grain Staff
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CALGARY, ALBERTA, CANADA — At the request of Market Surveillance on behalf of the Toronto Stock Exchange, Viterra on March 15 acknowledged that, in response to expressions of interest from third parties to acquire the company, a process has been established by the board of directors of Viterra, which includes confidentiality agreements being entered into and the provision of due diligence.

Viterra noted that is aware of press reports speculating about, among other things, the process, parties involved and third parties expressions of interest of at least C$16 per Viterra common share.

According to press reports, Cargill and Glencore have expressed interest in Viterra. The end of Canada’s single desk grain marketing monopoly has resulted in a flurry of interest in the region.

Viterra said it cautions investors not to rely on press reports as there can be no assurance that a transaction will occur and that if one does occur, there can be no assurance at what price it will be completed.

Viterra said it has engaged financial and legal advisors to provide support with this process. 



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