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Tag Archives Mergers and acquisitions

Signage on Viterra’s office building in Regina. (Dave Bedard photo)
Crops, Markets

Bunge seeks antitrust approvals for Viterra merger in major jurisdictions

Commodities market competition healthy in Canada, U.S., CEO says

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Minneapolis | Reuters — Bunge has filed for regulatory approvals for its merger with crop handler Viterra in “major jurisdictions” in North and South America, Europe and China, and has gotten the green light from some of its smaller markets including Colombia, CEO Greg Heckman said on Thursday. The merger, which would create a company
(Bunge video screengrab via Vimeo)
Crops, Markets

Bunge shareholders bless Viterra wedding

Company still expects to close deal mid-2024

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Shareholders in U.S. grain and agrifood giant Bunge have voted their advance approval of the company’s plans to take up one of Canada’s biggest grain industry players. Bunge on Thursday announced the results of an extraordinary general meeting of shareholders, in which they approved the acquisition of Viterra and a related issue of about 65.6
The problem with giants
Editorial, Op/Ed, Opinion

The problem with giants

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Saskatchewan’s Brandt Group of Companies is celebrating another addition. As reported in this issue, the equipment company recently announced its acquisition of Wairarapa Machinery Services Ltd., its 18th location in New Zealand. In a press release dated Aug. 31, CEO Shaun Semple says the deal is “uniting the entire North Island under one dealer brand”
(Dave Bedard photo)
Markets

Deal for Subway chain worth up to US$9.55 billion

Arby's, Jimmy John's parent wins with 'earn-out' deal

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New York | Reuters — Private equity firm Roark Capital agreed on Thursday to buy Subway, in a deal that people familiar with the matter said values the U.S. sandwich chain at up to US$9.55 billion, including debt, subject to targets in its financial performance. The deal marks the conclusion of a drawn-out auction that
J.P. Morgan’s estimate puts the market cap of a combined Bunge and Viterra at around US$25 billion.
Crops, Markets

Bunge, Viterra merger would create global ag trading giant

Companies have some overlap in Canadian crushing

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Reuters — A merger of U.S. grains merchant Bunge Ltd. with rival Viterra would grow the combined entity’s businesses in the U.S., Brazil and Australia and may raise competition concerns in parts of Canada and Argentina, where key oilseed processing assets overlap, analysts said. Sources last week said Bunge and Viterra were in talks for
(File photo by Dave Bedard)
Crops

U.S. regulator approves CP’s purchase of Kansas City Southern

Two U.S. grain grower groups warn of reduced rail competition

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Washington | Reuters — The Surface Transportation Board of the United States said on Wednesday it had approved Canadian Pacific Railway’s US$31 billion acquisition of railroad company Kansas City Southern, with a series of environmental and competition conditions. The board, which oversees U.S. freight railroads, is imposing some requirements on the deal, which was agreed
A plate of honey dijon glazed chicken wings. (SandersonFarms.com)
Livestock, Markets

Cargill, Continental close U.S. chicken deal

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Washington | Reuters — Cargill and Continental Grain said on Friday that they had closed their deal to buy Sanderson Farms, the third largest chicken producer, in a deal worth some US$4.53 billion. Under the deal, which was announced last August, Sanderson is being combined with Continental Grain subsidiary Wayne Farms. Sanderson will cease trading
A CNH manufacturing plant at Sorocaba, west of Sao Paulo in southeastern Brazil. (Photo courtesy CNH Industrial)
Crops, Markets

CNH sees revenues rising to 2024 on precision agriculture plans

Margin at agricultural unit seen at 14.5 to 15.5 per cent

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Milan | Reuters — Italian-American vehicle maker CNH Industrial on Tuesday gave guidance for a total revenue growth of up to 24 per cent through 2024 as it presented a new business plan after spinning off its truck, bus and engine units. In a bid to focus on its higher-margin agriculture and construction machine businesses,

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