iStatus: Upcoming/ New Filing
Acquirer: Viterra Limited (The Netherlands); Glencore PLC (Sweden); Canada Pension Plan Investment Board (Canada); British Columbia Investment Management Corporation (Canada)
Acquired: Bunge Limited (U.S.)
Value: $8.2 billion
Industry Tags: Agriculture; Agribusiness
On June 13, 2023, Bunge Limited (NYSE: BG) “entered into a definitive agreement with Viterra Limited, a private company limited by shares incorporated under the laws of Jersey (’Viterra’), together with certain affiliates of Glencore PLC (LSE: GLEN) (’Glencore’), Canada Pension Plan Investment Board (’CPP Investments’) and British Columbia Investment Management Corporation (’BCI’), to merge with Viterra in a stock and cash transaction. The merger of Bunge and Viterra will create an innovative global agribusiness company . . .” (Press Release, Bunge Limited, Form 8-K, Ex. 99-1, June 14, 2023, SEC Filing.) “Under the terms of the agreement . . . Viterra shareholders would receive approximately 65.6 million shares of Bunge stock, with an aggregate value of approximately $6.2 billion, and approximately $2.0 billion in cash. As part of the transaction, Bunge will assume $9.8 billion of Viterra debt . . .” (Id.) CFIUS Approval is a condition to closing the transaction. (See Section 8.1(b), Business Combination Agreement, Bunge Limited, Form 8-K, Ex. 2.1, June 15, 2023.) Bunge expects the transaction “to close in mid-2024.” (Bunge Limited, Form 8-K, June 15, 2023.)
