Glencore the commodity giant led by billionaire Ivan Glasenberg, has made a takeover approach for US grain trader Bunge.
Glencore said it approached Bunge about “a possible consensual business combination,” the company said in a statement Tuesday, adding that there’s “no certainty that any transaction will occur.”
The Wall Street Journal reported, citing people familiar with the matter, that Switzerland-based Glencore aims to gain a presence in the US agriculture market through a deal with Bunge. There’s no assurance that talks will lead to a deal, the report noted.
Shares of White Plains, New York-based Bunge surged after news of the approach was reported earlier, jumping as much as 18 percent in the stock’s biggest intraday gain since 2008. The US company has a market value of about $11.3 billion.
Full Content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Walmex Awaits Antitrust Ruling as Mexican Regulator Probes Alleged Practices
Oct 8, 2024 by
CPI
Crypto.com Sues SEC, Alleging Regulatory Overreach in Crypto Industry
Oct 8, 2024 by
CPI
Elite US Universities Face New Antitrust Suit Over Financial Aid Practices
Oct 8, 2024 by
CPI
Kirkland & Ellis Strengthens Antitrust Practice with New Partner from FTC
Oct 8, 2024 by
CPI
TikTok Hit with Lawsuits from 13 US States and DC
Oct 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh