Deals
Trader Bunge to Buy Glencore-Backed Viterra for $8 Billion
- Roughly 75% of payment to be made in Bunge stock, rest in cash
- Bunge also plans to repurchase $2 billion of its own shares
A Viterra grain elevator in Saskatoon, Saskatchewan, Canada
Photographer: Heywood Yu/BloombergThis article is for subscribers only.
US agribusiness Bunge Ltd. agreed to buy Glencore Plc-backed Viterra for $8.2 billion in stock and cash, creating a trading giant capable of competing with the world’s biggest agricultural commodity traders.
Viterra shareholders will eventually own about 30% of the combined business after the transaction, the companies said Tuesday in a joint statement. Roughly 75% of the payment would be made in Bunge stock, and another 25%, or $2 billion, in cash.