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.