LIVE NEWS: Bunge Shares Rise on Report of Vitera Merger Talks

Shares of Bange, the world’s largest oilseed processor, rose as much as 5% on Thursday after reports of preliminary deal talks with Glencore-backed grain trader Viterra.

The potential merger, first reported by Bloomberg, would create an agribusiness powerhouse to rival Cargill and Archer Daniels Midland.

St. Louis-based Bunge, which had a net profit of $1.6 billion last year, trades grain around the world and also owns a network of processing and storage facilities.

Viterra, formerly known as Glencore Agriculture, had previously approached Bange for a potential deal in 2017. Viterra reported a net profit of $1 billion last year.

Glencore and Bange declined to comment. Mr. Vitella did not respond to a request for comment.

Summarize this content to 100 words Shares of Bange, the world’s largest oilseed processor, rose as much as 5% on Thursday after reports of preliminary deal talks with Glencore-backed grain trader Viterra.The potential merger, first reported by Bloomberg, would create an agribusiness powerhouse to rival Cargill and Archer Daniels Midland.St. Louis-based Bunge, which had a net profit of $1.6 billion last year, trades grain around the world and also owns a network of processing and storage facilities.Viterra, formerly known as Glencore Agriculture, had previously approached Bange for a potential deal in 2017. Viterra reported a net profit of $1 billion last year.Glencore and Bange declined to comment. Mr. Vitella did not respond to a request for comment.
https://www.ft.com/content/6fc4cbab-8d5d-44de-93da-f167c4f5128f LIVE NEWS: Bunge Shares Rise on Report of Vitera Merger Talks

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