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ADM Said to Seek Bunge Merger Talks as Grains Traders Struggle

  • Agricultural traders want to consolidate as profits fall
  • Bunge rebuffed merger proposal from Glencore last year
A worker inspects wheat grain at a grain storage facility, operated by Bunge Ltd.

A worker inspects wheat grain at a grain storage facility, operated by Bunge Ltd.

Photographer: Vincent Mundy/Bloomberg

Archer-Daniels-Midland Co. sought merger talks with Bunge Ltd., said a person briefed on the matter, potentially setting up a battle for control of the giant agricultural trader with Glencore Plc.  

ADM’s recent approach was preliminary and it’s unclear whether a deal can be done, said the person, who asked not to be identified because the talks are private. Glencore, the world’s largest commodities trader, approached Bunge last year over a merger, but was rebuffed and signed a standstill agreement that prevents it making a hostile bid for the time being.