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Viterra-Bunge merger plan backed by CPPIB and B.C. pension giant: reports

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A merger between Glencore\u0027s Viterra and Bunge Ltd. has the support of two of Canada’s biggest pension funds, reports indicate. Read more here.

and British Columbia Investment Management Corp. are willing to swap their combined 49.98 per cent stake in Viterra for investments in the merged entity, said the person who asked not to be named discussing a private deal.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

Glencore has flirted with the idea of a deal with Bunge on and off for years, and there’s no certainty it will be able to reach an agreement this time around. In 2017, the Swiss commodities giant approached Bunge about a friendly takeover, but was publicly rebuffed by the U.S. firm. Since then, Bunge has replaced its new chief executive officer and other senior executives.

 

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