U.S. grains merchant Bunge and Glencore -backed Viterra are merging in an $18 billion deal including debt, the companies said on Tuesday, creating one of the world's largest agriculture trading firms.
-backed Viterra are merging in an $18 billion deal including debt, the companies said on Tuesday, creating one of the world's largest agriculture trading firms.and Cargill and will be examined closely by antitrust regulators.Viterra shareholders will receive about 65.6 million shares of Bunge stock, carrying a value of about $6.2 billion, and about $2.0 billion in cash. Bunge will also assume $9.8 billion of Viterra's debt.
Bunge is already the world's largest oilseed processor and analysts said it and Viterra's crushing businesses could face regulatory scrutiny inBunge last year was the largest corn and soybean exporter from Brazil, the world's top source of the staple crops for making animal feed and biofuels, according to data from shipping agent Cargonave. Viterra was the third-largest corn exporter and No. 7 soybean shipper.
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Bunge to combine with Viterra in deal valued at about $8.2 billionBunge Ltd. said Tuesday it has agreed to combine with privately held Viterra Ltd. in a cash-and-stock deal valued at about $8.2 billion. Under the terms of...
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New York City mandates $18 minimum wage for food delivery workersStarting in July, food delivery workers in New York City will make nearly $18 an hour, as New York becomes the nation's first city to mandate a minimum wage for the app-based restaurant employees.
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New York City mandates $18 minimum wage rate food delivery app workersMayor Eric Adams announced a first-of-its-kind minimum pay rate for app-based restaurant delivery workers.
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Breakingviews - Glencore’s Teck coal approach sends two signalsAt first sight, the latest Teck Resources chess move by Glencore is slightly confusing. Back in April the $22 billion Canadian miner rejected the $68 billion Swiss commodity giant’s merger offer, which planned to split the resulting entity into a separately listed coal company and a standalone metals company. While that approach still stands, Glencore on Monday said it has now also submitted a cash offer to buy only Teck’s coal unit.
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