Bunge has entered into a definitive agreement with Viterra, together with certain affiliates of Glencore PLC, Canada Pension Plan Investment Board and British Columbia Investment Management Corporation, to merge with Viterra in a stock and cash transaction. The combined company would be valued at a reported USD 34 bn including debt.

The merger of Bunge and Viterra will create a “global agribusiness powerhouse,” which is poised to meet the demands of increasingly complex markets and better serve farmers and end customers. The deal would form a mega agriculture trader slated to accelerate investments in sustainable solutions to this century’s most pressing food challenges. The merger is expected to close in mid-2024.

The companies stress the combination will lead to more diversified capabilities and greater operational flexibility across oilseed and grain supply chains and processing, greater resources and combined employee talent to innovate and deliver for customers in every environment.