Viterra receives bid from Glencore

Viterra Inc., Canada’s largest publicly traded grain handler, has received an €5.5 billion offer from Swiss commodities firm Glencore, according to media reports.

Viterra confirmed Friday that it has received “expressions of interest” but did not name the pursuer at the time, and Glencore has declined to provide any comment

Viterra had initially denied that it was weighing any offers last week, but the confirmation was received on Friday, with the surge in the “market activity in Viterra’s shares” playing a large part.

Viterra’s shares rose by $2.60, or 23.68%, on Friday to $13.58.

Viterra is a grain handler, marketer and food processor with operations across Canada, the United States, Australia, New Zealand and China.

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