Glencore makes Bunge takeover approach

Glencore makes Bunge takeover approach

Glencore, the mining and energy conglomerate, has made an informal takeover approach to the commodity company Bunge Limited.

“Discussions may or may not materialize, and there is no certainty that any transaction will occur,” Glencore said in a news release on Tuesday.

Bunge was worth about $10bn, based on its market capitalisation, ahead of trading on Tuesday. Bunge has however quashed the merger talk, saying late yesterday it was not in talks with Glencore.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts