Glencore to buy Canadian agri-business Viterra

Commodity marketing and mining giant Glencore International is to spend nearly four billion pounds on the issued and outstanding shares of Viterra, the Canadian agri-business and food ingredients firm.

Commodity marketing and mining giant Glencore International is to spend nearly four billion pounds on the issued and outstanding shares of Viterra, the Canadian agri-business and food ingredients firm.

Glencore, which is currently in the process of a mammoth tie-up with FTSE 100 peer Xstrata, said it would pay C$16.25 in cash per Viterra share, representing an "attractive premium to Viterra shareholders" (a premium of 48% over the Viterra's closing price on March 8th, the day before it announced it had received expressions of interest). The transaction has already received the unanimous approval of Viterra's board.

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