Commodity giant Glencore is eyeing a takeover bid of of US grain trader Bunge.
In a statement released Tuesday, the Switzerland-based company confirmed that is has approached Bunge about "a possible consensual business combination." Glencore also added that there is "no certainty that any transaction will occur."
Bunge shares jumped after the news broke Tuesday.
Glencore purchased Viterra back in 2012 for a pricetag of over $6 billion, but since then has sold 49 per cent of its agriculture unit.
Bunge owns a number of oilseed processing plants in Canada including facilities at Altona and Harrowby, Manitoba.
Source : Steinbachonline