Bunge Nears $30B Plus Merger Deal With Viterra: Report

Bunge Ltd BG is nearing the merger deal with Glencore PLC GLNCY Viterra grains division.  

The merger will create an agricultural trading company worth more than $30 billion (including debt), reported Reuters, citing a person familiar with the matter.

Viterra's shareholders (including the Canada Pension Plan Investment Board and British Columbia Investment Management Corp) are said to be signing off on the deal as early as this weekend, subject to negotiations term.

The report noted the deal is on track to be disclosed next week, and the final value may vary based on Bunge's share movement on the day of signing.

As per the report, there is also a possibility of last-minute collapse of the deal.

Related: Bunge In Talks With Glencore Regarding Viterra Grain Business: Reports

Last month, Bunge reported a Q1 2023 sales decline of 3.5% Y/Y to $15.33 billion, beating the consensus of $14.78 billion and an adjusted EPS of $3.26, exceeding the analyst consensus of $3.24.

The company held $3.05 billion in cash and equivalents as of Mar. 31, 2023.

Also Read: Bunge, Williams Companies And Shake Shack Feature On CNBC's 'Final Trades'

Price Action: BG shares are trading lower by 2.63% at $91.71 on the last check Thursday.