Shares in Bunge, the world’s largest oilseed processor, jumped as a lot as 5 per cent on Thursday after stories of preliminary deal talks with Glencore-backed grain dealer Viterra.
A possible merger, which was first reported by Bloomberg, would create an agribusiness powerhouse rivalling Cargill and Archer Daniels Midland.
St Louis-based Bunge, which generated $1.6bn in web earnings final yr, buys and sells grains around the globe, in addition to proudly owning a community of processing and storage amenities.
Viterra, which was previously referred to as Glencore Agriculture, beforehand approached Bunge a couple of potential deal in 2017. Viterra reported web earnings of $1bn final yr.
Glencore and Bunge declined to remark. Viterra didn’t reply to a request for remark.