Glencore plans to unite with Bunge
the Swiss trading company Glencore proposed U.S. agribusiness giant Bunge to join, reports The Wall Street Journal (WSJ) with reference to own sources.
If the parties agree on the terms of the transaction, Glencore will become a powerful player in the agricultural market of the United States. The company reported that the Department of agriculture "employs an informal approach to doing business to agree the details of combining the businesses."
so far the official information about the negotiations there, and about whether they were actually carried out. Not reported on the conditions and amount of a possible transaction.
According to the WSJ, at the time of opening of U.S. markets on may 23, the market capitalization of Bunge were $ 10 billion. Including debt the company's value is estimated at $ 15 billion. On the news about a possible deal with Glencore shares of Bunge rose by 17%.
American agribusiness company Bunge, founded in 1818, is today one of the key participants in the global grain market and the largest supplier of soybeans and manufacturer of vegetable oils.
the Swiss trading company Glencore is one of the world leaders in the supply of raw materials and rare earth materials, and its market capitalization as of 23.05.17 amounted to $42 billion.