HomeBusinessCanada's Government to Assess Bunge-Viterra Merger in 13 Words or Less

Canada’s Government to Assess Bunge-Viterra Merger in 13 Words or Less

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The Canadian government has announced that it will be conducting a review of the proposed merger between Bunge, a U.S. grains merchant, and Viterra, which is backed by Glencore. The transport minister, Pablo Rodriguez, stated that the review will include a public interest assessment and must be completed by June 2, 2024. The purpose of the review is to ensure fair pricing and access for users, particularly Canadian farmers, as both companies have ownership interests in port terminals across Canada. The merger is expected to create an agricultural trading giant with a total worth of about $34 billion, including debt.

The review by the Canadian government’s transport ministry comes after Canada’s Competition Bureau announced in June that it would be reviewing the proposed merger. If approved, the deal would bring Bunge and Viterra closer in scale to their leading competitors Archer-Daniels-Midland and Cargill. Additionally, the merger would allow Bunge to expand its physical grain storage and handling capacity in Australia, which is a major exporter of wheat.

The Canadian government’s decision to review the Bunge-Viterra merger demonstrates a commitment to maintaining a fair and competitive market in the transportation sector, specifically for Canadian farmers. With both companies having ownership interests in port terminals throughout the country, ensuring healthy competition is vital for fair pricing and access. The review process will include a public interest assessment that must be completed by June 2024. If the merger is approved, it would not only create a major agricultural trading giant worth about $34 billion, but it would also bring Bunge and Viterra closer in scale to leading competitors in the industry. Additionally, the merger would provide Bunge with the opportunity to expand its grain storage and handling capacity in Australia, a crucial market for wheat exports.

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