Viterra Inc, Canada’s biggest grain handler up for sale

Viterra Inc, Canada’s biggest grain handler is up for sale, Cargill the US agribusiness giants has shown interest in acquiring Viterra Inc, but Glencore International has previously made a bid and seems to have more serious talks. Glencore International AG is in exclusive talks with Viterra Inc over a deal to buy the Canadian grain handler, according to a person familiar with the situation, moves forward with a process begun earlier in the month to explore bids.

Viterra shares - currently trading at a market capitalisation of just above Can$6 billion (€4.582 billion) - were briefly halted in Toronto trading. After issuing a statement confirming exclusive discussions with an unnamed third party, shares resumed trading. Glencore had been seen as a likely bidder for Viterra ever since the Regina, Saskatchewan, company first disclosed it had received expressions of interest earlier this month. Last week, the company said it had set up a formal process to evaluate bids. Read more ...

This blog is written by Martin Little, The Global Miller, published and supported by the GFMT Magazine and the International Milling Directory from Perendale Publishers. To get your copy of 'PPLAPP' click here.