Report: Cargill expressing interest in Viterra
BakingBusiness.com, March 13, 2012
by Staff

MINNETONKA, MINN. — Cargill Inc. has joined Glencore in expressing an interest to buy Canadian agribusiness giant Viterra Inc., according to an article in The Wall Street Journal.

Viterra is one of the largest grain handlers in Canada and also owns grain handling assets in Australia. Since the end of Canada’s single desk grain marketing monopoly has resulted in a flurry of interest in the region.

Glencore reportedly has made a $5.5 billion bid for Viterra. On March 9, Viterra said in view of market activity in the company’s shares, it acknowledged that it received “expressions of interest from third-parties.” Viterra said a further announcement will be made if appropriate.

Glencore, the world’s largest diversified commodities trader, markets and produces crops, metals, minerals and oil. The company has said all along it wanted to grow its agricultural commodities business.

It reportedly also has expressed interest in U.S. energy and grains trader Gavilon Group. Glencore also is pursuing a $36 billion takeover of mining company Xstrata.