Bunge Deal for Viterra Raises Competition Red Flags, Canadian Agency Says [BNN Bloomberg (Canada)]
Archer-Daniels-Midland Company (ADM)
Last archer-daniels-midland company earnings: 4/29 04:05 pm
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Source: BNN Bloomberg
The Competition Bureau raised a red flag over Bunge's 25% stake in G3 Global Holdings, a joint venture with a Saudi firm that operates grain facilities in Canada and is a major competitor to Viterra. If the deal is allowed to go through, Bunge will have an incentive to “influence G3's economic behavior to the detriment of competition,” the agency said in a report to Canada's transport minister. Any decision to approve or reject the deal lies with the Canadian government, not the competition bureau. Bunge struck the $8.2 billion deal for Glencore Plc-backed Viterra last June. If completed, it would unite the company with the most oilseed-crushing facilities in Western Canada with the largest operator of primary grain elevators. Read More: Bunge-Viterra Deal Would Create $25 Billion Rival to Cargill The result would likely be “a significant loss of rivalry between Bunge and Viterra in a number of markets,” less competition for the purchase of canola and lower prices for supplie
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ADM
Earnings
- 4/30/24 - Beat
ADM
Sec Filings
- 4/30/24 - Form DEFA14A
- 4/30/24 - Form 10-Q
- 4/30/24 - Form 8-K
- ADM's page on the SEC website