It would vault Bunge into the biggest grain trader in the North America.
Viterra emerged from the former Alberta, Saskatchewan and Manitoba wheat pools. The former Harper conservative government ended the Canadian Wheat Board’s monopoly on wheat exports from the Prairies, triggering the demise of the farmer-owned pools.
Glencore is trying to buy Teck, a large Canadian coal-mining company. Glencore, based in Switzerland, is mainly a mining company.
Last year Viterra bought Gavilon for $1.1 billion to extend its reach into the U.S. It was owned b Japan Marubeni.
Glencore owns 49.9 per cent of Viterra’s shares. Other major owners of Viterra stock are the British Columbia and Canada pension plans.
