Bunge Says Viterra Deal On Track, Despite Canadian Warning -- Market Talk

Dow Jones04-24

0912 ET - Bunge says its $8 billion bid for rival grain trader Viterra will benefit Canada and that it doesn't see the need for any deal remedies, a day after Canada's antitrust watchdog said the deal would cause harm to competition in the western part of the country. Executives for the grain trader say on a call with analysts the deal will allow it to increase its investments in Canada and that it will continue to engage with the country's leadership. CEO Greg Heckman says the deal is still on track to close in the middle of this year but the company is still waiting for clearance from the U.S., Canada, Brazil and China. "We don't know exactly when we'll get the green light, but we sure haven't seen anything that indicates any material risk to the economics of the deal," he says. (patrick.thomas@wsj.com)

(END) Dow Jones Newswires

April 24, 2024 09:12 ET (13:12 GMT)

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