Bunge gains amid report on merger talks with Viterra
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- Bunge (NYSE:BG) rose 5% amid a report that Glencore Plc-backed agriculture trader Viterra is in discussions on a merger.
- The parties are in talks about the structure of possible deal, according to a Bloomberg report on Thursday, which cited people familiar.
- Glencore (OTCPK:GLCNF) has toyed with the idea of a combination with Bunge for years and there's no certainty than an agreement will be reached, according to the report.
- In May 2017 Glencore made an "informal" approach to Bunge about a a combination, though Bunge (BG) said it wasn't in talks about a deal.
- Bunge (BG) has seen interest in the past from Archer Daniels Midland (ADM) and advanced merger talks about a deal ended without an agreement in April 2018.
- ADM rose 1.3% on Thursday in the wake of the Glencore talks with Bunge (BG).
- Developing story ...