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Shares of Bunge, the world’s largest oilseed processor, jumped as much as 5% on Thursday on reports of preliminary talks with Glencore-backed grain trader Viterra.
A potential merger, first reported by Bloomberg, would create an agribusiness powerhouse that rivals Cargill and Archer Daniels Midland.
St Louis-based Bunge, which generated $1.6 billion in net income last year, buys and sells grain around the world, in addition to owning a network of processing and storage facilities.
Viterra, formerly known as Glencore Agriculture, previously approached Bunge about a potential deal in 2017. Viterra reported net income of $1 billion last year.
Glencore and Bunge declined to comment. Viterra did not respond to a request for comment.
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