Bunge “Not Engaging” in Talks with Glencore
24 May 2017 --- US grains trader Bunge Ltd says that it is not in talks with Anglo-Swiss multinational Glencore which has claimed to have made an “informal” approach sparking possible takeover speculation.
In a statement, Glencore confirms an approach has been made by its non-consolidated agriculture joint venture GAL to Bunge regarding a “possible consensual business combination.”
“Following this informal approach from GAL, discussions may or may not materialize and there is no certainty that any transaction will occur,” says the statement.
However, Bunge has responded with its own statement, claiming it is not engaging in business discussions.
The full statement reads: “In response to a statement issued today by Glencore plc, Bunge Limited (NYSE:BG) stated that it is not engaged in business combination discussions with Glencore Agriculture Limited or Glencore plc.”
“Bunge is committed to continuing to execute its global agri-foods strategy and pursuing opportunities for driving growth and value creation.”
Bunge Limited was originally founded in 1818 and today is a global agribusiness and food company, incorporated in Bermuda and headquartered in White Plains in the US. It is an international soybean exporter, is involved in food processing, grain trading, and fertilizer. The company has more than 35,000 employees at 400 facilities in 40 countries.
It also owns port facilities for export in South America, North America, the Black Sea region and Australia helping the company to ship surplus foodstuffs to customers in China, the Middle East and other locations.
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