Viterra shareholders approve acquisition by Glencore
May 30, 2012
by Eric Schroeder
CALGARY, ALTA. — Shareholders of Viterra Inc. have passed a special resolution to approve Glencore International P.L.C.’s acquisition of all issued and outstanding common shares of Viterra for C$16.25 per share, in cash. The resolution was approved by 99.8% of the votes cast by shareholders.
“The result of today’s vote demonstrates strong support for this transaction from Viterra’s shareholders,” said Mayo Schmidt, president and chief executive officer of Viterra. “We are very proud of the global business we have built, and our shareholders are being rewarded for their support of our company and its contributions to our employees and communities in which we live and operate.”
Viterra expects the transaction to close by the end of July 2012.
Canada-based Viterra operates three business segments: grain handling and marketing, agri-products and processing.
Based in Baar, Switzerland, Glencore is one of the world’s largest integrated producers and marketers of commodities. The company has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of metals and minerals, energy products and agricultural products.