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Reuters: Bunge and Glencore discuss partnership, not sale

May 23, 2017 7:47 PM ETBunge Global SA (BG) StockBG, GLCNF, GLNCYBy: Carl Surran, SA News Editor1 Comment
  • Bunge (NYSE:BG) -3.3% AH as Reuters reports the company talked with Glencore's (OTCPK:GLCNF, OTCPK:GLNCY) agricultural unit about setting up a North American partnership, not a sale of the entire company.
  • Bunge surged more than 16% in today's trade after WSJ reported that Glencore had approached it about a "possible consensual business combination."
  • Merger talk in the ag sector has been rising for months as commodities prices remain stubbornly low, but some analysts say BG's potentially high price tag, with a current valuation of ~$11B, raises questions about the feasibility of a deal.

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