Grain Handler Viterra gets Takeover bid from Glencore, report says (VT.tsx; GLEN.L)

From the Canadian Broadcasting Corporation:

Cargill also said to be interested
Viterra Inc., Canada's largest publicly traded grain handler, has received an offer from Swiss commodities firm Glencore PLC, according to a media report.

The Sunday Telegraph in Britain, citing unnamed sources, says Glencore's bid is worth $5.5 billion.

The reports come after Viterra confirmed Friday that it has received "expressions of interest," but did not name the pursuer. Glencore declined to provide any comment on the reports to The Canadian Press on Monday morning.

Meanwhile, the Wall Street Journal reported that U.S. agribusiness Cargill Inc. was also one of the groups interested in buying Viterra, citing unidentified sources familiar with the matter.

The potential bids comes as Viterra is poised to benefit from the end of the Canadian Wheat Board's long-running monopoly on the marketing of wheat and barley.

Viterra had initially denied last week that it was weighing any offers, but followed it up shortly afterwards with the confirmation on Friday, "in view of market activity in Viterra's shares."...MORE 

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