Canadian Grain Firm Rising on Buyout Speculation (VTRAF, ADM, BG, NOBGY, GLCNF, XSRAY)
Canadian grain handling company Viterra Inc. (OTC: VTRAF.PK) is reported to have three potential buyers in its data room, in advance of making an offer to acquire the firm. Bloomberg News is reporting that an unnamed source says that Archer…
More interesting is the source’s revelation that Glencore International plc (OTC: GLCNF.PK) may also be interested in acquiring Viterra. Glencore is named as a potential buyer for nearly every commodity trading company, mining company, or ag company that is now or ever might be on the market. The company’s proposed merger with Xstrata plc (OTC: XSRAY.PK) will create an $80+ billion behemoth and even Glencore might want to take a breather before plunking down even more cash.
Viterra shares are up 7.7% today, at $15.90 after posting a new 52-week high of $16.08 earlier.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
