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 content: A 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.
Featured News
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Hong Kong Authorities Crack Down on Bid-Rigging: 20 Arrested in Corruption Sweep
Apr 18, 2024 by
CPI
EU’s Vestager Cautions Against Telecoms Merger Threats to Competition
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – China Edition – Year of the Dragon
Apr 16, 2024 by
CPI
Review Logic and Rules for Concentrations of Undertakings that Do Not Meet the Standard of Notification
Apr 16, 2024 by
CPI
China’s Review of Semiconductor Transactions
Apr 16, 2024 by
CPI
Key Challenges and Tips for Merger Control Filing in China for Listed Companies
Apr 16, 2024 by
CPI
Key Point Review: China SPC Antitrust Judgments in 2023
Apr 16, 2024 by
CPI