Reading Time: 2 minutes Chicago | Reuters –– Grain merchant Bunge Ltd. has sweetened compensation packages for top executives in the case of a takeover, according to the company’s regulatory filings, around six months after rebuffing an approach by commodity trading giant Glencore. Bunge and its rivals have seen profits fall as several years of oversupply in global grains […] Read more
Bunge widens exec takeover payout scheme after Glencore approach
Grain company hunt goes on for Glencore
Reading Time: 2 minutes Geneva | Reuters — Commodities giant Glencore has made unsuccessful moves for three or four smaller targets in the grain sector this year as it seeks acquisitions to grow upstream, the head of its agricultural arm said. “We have looked at three or four possibilities in our core area already this year but couldn’t reach […] Read more
Bunge shares jump on report of Glencore standstill agreement
Reading Time: < 1 minute Reuters — Shares of U.S. commodities trader Bunge surged on Friday after the Wall Street Journal reported that Glencore had a standstill agreement that temporarily prevents the Swiss company from making a hostile bid for Bunge. Bunge had rebuffed a takeover approach by Glencore in May. Speculation has swirled for months that Glencore would make […] Read more
Bunge leaves door open to selling itself
Reading Time: 3 minutes Reuters — Bunge Ltd. kept the door open on Wednesday to a sale of the company as it reported a 34 per cent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should […] Read more
Bunge leaves door open to selling itself, cuts 2017 forecast
Reading Time: 3 minutes Chicago/Reuters – Bunge Ltd kept the door open on Wednesday to a sale of the company as it reported a 34 percent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should also […] Read more
Glencore seen paying up to US$6 billion in possible Bunge deal
Reading Time: < 1 minute London | Reuters –– Miner and trader Glencore may pay up to US$6 billion in cash in a possible tie-up with U.S. grains trader Bunge based on current valuations, Moody’s ratings agency said on Friday, but said it did not expect an outright acquisition. Glencore said this week it had made an informal approach to […] Read more
Glencore looking to expand agriculture business, CEO says
Reading Time: 2 minutes Cham, Switzerland | Reuters –– Miner and trader Glencore is looking to expand its agriculture business via its partnership with two Canadian funds, the company’s CEO said on Wednesday, but has no plans to move into any commodities it does not already trade. CEO Ivan Glasenberg was speaking a day after U.S. grains trader Bunge […] Read more
Glencore approaches Bunge on possible takeover
Reading Time: < 1 minute Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
ADM sees weaker ag services outlook on trading woes
Reading Time: 2 minutes Chicago | Reuters — U.S. agricultural trader Archer Daniels Midland (ADM) on Tuesday cautioned that massive global grain stocks are making it difficult to turn a profit trading grain internationally, sending its shares plummeting despite reporting a higher first-quarter profit. The warning highlighted a string of trading woes at ADM, which has shed several key […] Read more
Bunge profit dives as grain glut hits margins
Reading Time: 2 minutes Chicago | Reuters –– U.S. agricultural trader Bunge reported on Wednesday a sharply lower first-quarter profit and cut its full-year earnings forecast as slow crop sales by farmers in South America squeezed margins in its core agribusiness unit, sending shares tumbling. White Plains, N.Y.-based Bunge said net income available to shareholders plunged 82 per cent […] Read more
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