Bunge's proposed acquisition of Viterra draws Competition Bureau concerns [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
Originally announced in June 2023 , Bunge's US$8.2-billion acquisition would give Viterra shareholders a 30 per cent stake in the combined business and $2 billion in cash. The deal would create a big enough business to take on the other major players in the space, such as Minneapolis-based Cargill Inc. and Chicago's Archer-Daniels-Midland Co. On Tuesday, however, the Competition Bureau said the deal is “likely to result in substantial anti-competitive effect” and a loss of competition between the two agriculture businesses, specifically when it comes to grain purchasing in Western Canada and the sale of canola oil in Eastern Canada. The bureau is also concerned with Bunge's minority shareholder connection to grain company G3, a major competitor to Viterra. “Bunge could materially influence the economic behaviour of G3 Global Holdings (G3), a major competitor to Viterra,” the bureau wrote in a news release . “As a minority shareholder of G3, Bunge has access to G3's confidential
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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