BUNGE AND VITERRA OFFER TO SELL EU ASSETS SEEKING EU APPROVAL FOR $34 BLN MERGER

U.S. grains merchant Bunge and Glencore-backed Viterra have offered to divest assets in two EU countries aimed at winning EU antitrust approval for their $34 billion merger. The companies announced their merger a year ago to better compete with global giants Archer-Daniels-Midland and Cargill (CARG.UL). They submitted their concessions to the European Commission on Thursday.

Bunge and Viterra had initially hoped to secure unconditional EU clearance after the regulators' preliminary review of the deal but the EU competition enforcer subsequently cited concerns on specific European issues.

Learn More