Bunge Global topped Wall Street estimates for third-quarter adjusted profit on Wednesday with the closing of its acquisition of Viterra in July boosting volumes as oilseed processing margins improved, sending shares up 2.6 per cent.
U.S. grain trader and processor Bunge on Wednesday lowered its 2025 earnings forecast following its merger with Viterra, and said it is overhauling segment and volume reporting to align with its integrated operations.
Louis Dreyfus Company has acquired grains and oilseeds processing, storage and trading activities in Hungary and Poland from rival agricultural commodity merchant Bunge Global, fulfilling conditions Bunge needed to meet to get approval of its merger with Viterra.
Miner and trader Glencore said on Wednesday that its long-term strategy could involve the sale of its 16.4 per cent stake in enlarged global agribusiness Bunge Global some time in the future.
China's market regulator has granted conditional approval for global agribusiness Bunge Global's merger with Glencore-backed grain handler Viterra, it said on Monday, clearing the final hurdle for the $34 billion mega-deal announced two years ago.
Global agribusiness Bunge Global has received regulatory approval from China for its acquisition of grain handler Viterra and expects to close the $34 billion deal "on or around July 2," the company said in a statement on Friday.
U.S. grains merchant Bunge is close to getting a ruling from Chinese regulators on its $8.2 billion (C$11.2 billion) purchase of Glencore-backed Viterra with a verdict expected within days, Bloomberg News reported on Wednesday.
Bunge Global's $34 billion merger with Glencore-backed Viterra is being stalled by trade tensions between the U.S. and China, Bloomberg News reported on Friday, citing people familiar with the matter.