Bunge, the U.S. grain trader, is set to acquire Viterra

 

Bunge, the U.S. grain trader, is set to acquire Viterra, Canada's largest grain handling company, for $8.2B.  Bunge will use Viterra's network of North American grain-buying and shipping facilities to better handle weather supply chain disruptions. Bunge will take its strengths in soybean processing and South American crops and utilize Viterra to help it sell crops to food companies, governments, and other buyers around the world. Bunge will pay Viterra shareholders about 65.6 million shares valued at $6.2B and about $2B in cash. It will also assume $9.8B in debt from Viterra. Agriculture shippers have seen larger profits ever since Russia's invasion of Ukraine sent grain prices soaring. The deal may receive scrutiny from antitrust regulators in the Biden administration as it could suppress competition in its industry.