GFM Network News

Cargill not commenting on IPO rumours

chicago / reuters / U.S. agribusiness Cargill Inc. said on March 28 it had no comment regarding a market rumour that it was planning an initial public offering. “Our company does not comment on market rumours,” Cargill spokeswoman Lisa Clemens said. Talk about an IPO among traders and investment bankers surfaces periodically about Minneapolis-based Cargill,

Richardson International’s rise to share top grain spot

The pending multibillion-dollar sale of Viterra demonstrates the value of patient capital and private ownership, says Richardson International president Curt Vossen. Last week publicly traded Viterra, Canada’s largest grain company, announced it was selling to the world’s No. 1 diversified commodities trader, Swiss-based Glencore, for $16.1 billion. But in a move believed aimed at getting

Agribusiness Giants Can’t Escape Market Volatility

You know commodity trading conditions are tough when even firms that sit on both the buy and sell sides of a market still suffer hefty losses. Such was the case with 140-year-old agribusiness giant Cargill, which recently reported a 66 per cent drop in earnings in the latest quarter over year-ago levels due to global

“Fertilizer Wars” Throw Spotlight On Three CEOs

Mike Wilson, Steve Wilson and Mike Bennett are patient men. Embroiled in a nine-month three-way takeover battle, the chief executives of fertilizer companies Agrium Inc., CF Industries Holdings Inc., and Terra Industries Inc. have stayed in the headlines even as a recession and falling grain prices pushed the stocks of their companies off their 2008

Viterra Attempts To Go Global

Atakeover of Australia’s ABB Grains Ltd. by Viterra Inc. could transform the Canadian grain company into a global powerhouse, but it also runs the risk of repeating mistakes made in a previous attempt at foreign expansion. Viterra, Canada’s largest grain handler, has offered up to A$1.64 billion (US$1.16 billion) for ABB, a major Australian grain