According to WSJ, Bunge Limited (BG) approached by Glencore

  • October 16, 2017

Glencore PLC has a standstill agreement that temporarily prevents it from making a hostile bid for Bunge Ltd., (BG) according to people familiar with the matter, raising the possibility Glencore will renew its effort to acquire the grain trader.

Update(s):

January 19, 2018: Archer Daniels Midland Co. (ADM) has made a takeover approach to Bunge Ltd., (BG) according to people familiar with the matter, setting up a possible bidding war after Glencore PLC earlier made an overture to the agricultural powerhouse.

February 05, 2018: Top U.S. grains merchant Archer Daniels Midland Co (ADM) could reach an agreement to buy smaller rival Bunge Ltd (BG) as early as this week, Bloomberg reported on Monday, citing unnamed sources familiar with the matter.

March 05, 2018: Agricultural investment firm Continental Grain Co. is preparing to push Bunge Ltd. (BG) to consider strategic options, ramping up pressure on the commodity-trading giant to strike a deal.

March 09, 2018: Takeover talks between Bunge Ltd. (BG) and Archer Daniels Midland Co.(ADM)  have stalled, people familiar with the matter said, throwing into question a combination that could have formed one of the world’s largest agricultural conglomerates.

December 09, 2018: Bunge Ltd. (BG) will announce as soon as Monday the departure of its chief executive officer, removing a hurdle to further talks with would-be buyers, said a person familiar with the matter.