Competition Bureau gives OK to Viterra takeover by Glencore

Glencore International has announced that the Competition Bureau will not oppose its takeover for Viterra. For $6.1 billion, Glencore will buy Viterra, and then sell its retail agri-products business to Agrium for C$1.8 billion. Glencore will sell Viterra’s grain-handling assets to Richardson for C$900 million.

Two obstacles remain for the deal: it must by cleared by the Canadian government (Glencore is based in Switzerland, and as such, the acquisition is a foreign takeover requiring government approval), and Viterra’s shareholders must also approve the deal. The vote will take place on May 29.

Full content: Reuters

 

Related contentA First Principles Approach to Antitrust Enforcement in the Agricultural Industry (Geoffrey Manne, International Center for Law and Economics, Lewis & Clark Law School & Josh Wright, George Mason University School of Law)

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

RECOMMENDED FOR YOU
 


More Articles