Federal watchdog expresses 'serious' concerns about US$8.2B agri-business deal

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 42 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

Viterra News

Competition Bureau,Canada

The federal government will ultimately decide if the transaction proceeds.

FILE - In this July 11, 2018, file photo, a field of corn grows in front of an old windmill in Pacific Junction, Iowa.. on Tuesday stating the combination would cause a “significant loss of rivalry.” The agency’s non-binding opinion has been sent to Canada’s transport ministry, which has until June 2 to review the deal.

Last year, Bunge and Viterra announced an $8.2 billion cash-and-stock deal that would see Bunge assume US$9.8 billion of Viterra debt. Bunge would also repurchase US$2 billion of its own stock. After the buyback, Viterra shareholders will own 33 per cent of the merged company. The transaction is expected to close in mid-2024.

This week’s federal budget has premiers lashing out at Prime Minister Justin Trudeau over a planned increase to capital gains taxes as well as what they say is overstepping on infrastructure and pharmacare.Apple sales of iPhones in China dropped by 19% in the first quarter, extending the company’s rough patch in one of its most important markets. It was the worst performance for the iPhone in China in the January-March period since Covid-19 struck in 2020, Counterpoint Research reported.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

Former Canadian Finance Minister and Quebec Premier Call for Focus on Economic GrowthFormer federal finance minister Bill Morneau and former Quebec premier Jean Charest are urging the federal government to prioritize economic growth in the upcoming federal budget.
Source: CTVNews - 🏆 1. / 99 Read more »