Tuesday, March 20, 2012

Reuters: Deals: Glencore, partners agree $6.2 billion deal to buy Viterra

Posted by Isabella on 7:05 AM

Reuters: Deals
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Glencore, partners agree $6.2 billion deal to buy Viterra
Mar 20th 2012, 13:21

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Swiss commodities trader Glencore's logo is seen in front of its headquarters in Baar, near Zurich, February 6, 2012. REUTERS/Romina Amato

Swiss commodities trader Glencore's logo is seen in front of its headquarters in Baar, near Zurich, February 6, 2012.

Credit: Reuters/Romina Amato

LONDON | Tue Mar 20, 2012 9:21am EDT

LONDON (Reuters) - Commodities trader Glencore (GLEN.L), backed by partners Richardson International and Agrium Inc (AGU.TO), has agreed to buy Canada's Viterra (VT.TO) in a cash deal valuing the country's largest grain handler at C$6.1 billion ($6.2 billion).

Glencore, in the throes of a $36 billion takeover of miner Xstrata (XTA.L), said the deal offered C$16.25 per Viterra share and had been unanimously approved by Viterra's board.

Glencore, the world's largest diversified commodities trader, said Agrium and Richardson had agreed to acquire the majority of Viterra's Canadian assets and certain other assets for a roughly C$2.6 billion combined, in cash.

Viterra had said on Monday it was in exclusive talks with one prospective buyer, but did not identify a suitor.

(Reporting by Clara Ferreira-Marques)

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