Bunge Completes Long-Delayed Mega-Merger with Grain Handler Viterra
Global agribusiness Bunge Global said it officially closed a long-delayed deal to merge with Glencore-backed Viterra on Wednesday, two years after announcing the $34 billion mega-deal.
The merger creates a global crop trading and processing giant that is poised to rival agribusiness giants Archer-Daniels-Midland and Cargill, at a time when slumping grain prices, weak crop-processing margins and geopolitical tensions have eroded profitability in the sector. Bunge shares closed 1.4% higher on Wednesday.
The deal culminates a dramatic turnaround for Missouri-based Bunge.
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