Federal government to review proposed Bunge-Viterra merger, transport minister says

As part of the review, the transport ministry will launch a public interest assessment of the proposed acquisition, which must be completed by June 2, 2024, Canada's Minister of Transport Pablo Rodriguez said in a statement.

“Both companies hold ownership interests in port terminals throughout our country. Healthy competition in the transportation sector is necessary to ensure fair pricing and access for users, especially for Canadian farmers," Rodriguez said. Canada’s Competition Bureau had said in June it would review the merger, which would create an agricultural trading giant worth about $34 billion, including debt.

The deal would bring the combined company closer in scale to leading rivals Archer-Daniels-Midland and Cargill. The merger would also expand Bunge’s physical grain storage and handling capacity in major wheat exporter Australia.Checking box will enable automatic data updates.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canada says it will launch review of proposed Bunge-Viterra mergerOTTAWA (Reuters) - The Canadian government will review a planned merger between U.S. grains merchant Bunge and Glencore-backed Viterra, Transport ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Cost of living: Pepsi and Coca-Cola absent in meeting with federal industry ministerCanada's industry minister made a point of calling out Pepsi and Coca-Cola for not sending representatives to a meeting he convened on Monday with manufacturing companies to discuss stabilizing grocery prices.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Why the Federal Reserve hasn't spooked the stock market...yetThe world of business hasn't slowed much in the face of a lot of Fed rate hikes...and uncertainty on the rate outlook.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »