Bunge Deal for Viterra Raises Competition Red Flags, Canadian Agency Says [Financial Post (Toronto, Ontario, Canada)]
Bunge Limited Common Shares (BG)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Canada's antitrust watchdog raised concerns about Bunge Ltd.'s proposed acquisition of Viterra Inc., saying it will have “substantial anti-competitive effects” on the country's agricultural markets. 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. Article content Article content 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 w
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- Bunge Global SA (NYSE: BG) had its price target raised by analysts at Citigroup Inc. from $117.00 to $122.00. They now have a "buy" rating on the stock.MarketBeat
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- 4/24/24 - Beat
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Sec Filings
- 4/24/24 - Form 10-Q
- 4/24/24 - Form 8-K
- 4/16/24 - Form 8-K
- BG's page on the SEC website