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Bunge says not in talks with Glencore following approach

Staff Writer |
Bung said it was not in talks with Swiss mining and commodities group Glencore, after the latter said it had made an informal approach to discuss "a possible consensual business combination."

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However, Bunge subsequently said it was not engaged in business combination discussions with either Glencore or Glencore Agriculture, a joint venture owned by Glencore and two Canadian pension funds.

Glencore had said in its statement earlier that "discussions may or may not materialize and there is no certainty that any transaction will occur."

In a sign of its limited appetite to negotiate a sale to Glencore, Bunge said it was "committed to continuing to execute its global agri-foods strategy and pursuing opportunities for driving growth and value creation."

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