Bunge Ltd., the world's largest oilseed processor, agreed to buy Corn Products International Inc. for $4.2 billion in stock, gaining control of corn-based sweeteners at a time of record grain prices.
Bunge will pay the equivalent of $56 for each share of Westchester, Illinois-based Corn Products, Bunge said today in a statement. That's 31 percent more than Corn Products' closing share price of $42.90 on June 20.
Bunge Chief Executive Officer Alberto Weisser will gain control of refining operations that sell high-fructose corn syrup and food additives to customers including Coca-Cola Co. and PepsiCo Inc. Bunge, founded 190 years ago, buys grains from farmers across North America, South America and Europe....MORE
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