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)
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