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Bunge Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 5 (Reuters) - Shareholders of global grains merchant and oilseeds processor Bunge (BG.N) approved the company's acquisition of Glencore-backed (GLEN.L) Viterra during a shareholder meeting on Thursday, Bunge said in a statement. The merger, which will create a company worth $34 billion including debt, is expected to be finalized in mid-2024 after closing conditions are met and regulators have signed off on the deal, Bunge said. Bunge shareholders on Thursday also approved the issuance of 65,611,831 common shares and a move of Bunge's incorporation to Switzerland from Bermuda. Bunge's Viterra acquisition would make the world's largest oilseed processor more dominant as it aims to capitalize on soaring demand for vegetable oils to produce biofuels.

Persons: Dado Ruvic, Bunge, Archer, Greg Heckman, Karl Plume, Tom Hogue Organizations: Bunge, REUTERS, Daniels, Midland, Cargill, Thomson Locations: Switzerland, Bermuda, Chicago

☆ Bunge, Viterra will merge to form $34 billion agri-trading powerhouse
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +4 min

Under the deal, Viterra shareholders will get about 65.6 million shares of Bunge stock, carrying a value of about $6.2 billion, and about $2 billion in cash. Bunge will also assume $9.8 billion of Viterra's debt, according to the statement. Viterra was the third-largest corn exporter and No. Bunge said it plans to repurchase $2 billion of its stock to enhance accretion from the deal to adjusted profit. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion.

Persons: Archer, Bunge, Viterra, Greg Heckman, Heckman, Gavilon, Karl Plume, Anirban Sen, Arunima Kumar, Mrinalika Roy, Caroline Stauffer, Matthew Lewis, Devika Organizations: Bunge, Daniels, Midland, Cargill, ADM, Bayer, Agriculture, Thomson Locations: Canada, Argentina, Brazil, United States, Australia, Viterra, South Australia, Victoria, Chevron, Ukraine, Kharkiv, Dnipro, Mykolaiv, Chicago, New York, Bengaluru

Bloomberg News had reported on May 25 that Bunge and Viterra were in talks to combine, without providing details on the deal's terms and timing. Acquiring Viterra would bring Bunge revenue's revenues -- $67.2 billion in 2022 -- in line with Archer-Daniels-Midland, which registered sales of nearly $102 billion last year. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion. In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss "a possible consensual business combination." Viterra expanded its business of buying and selling grain in the United States through its $1.1 billion acquisition of Gavilon last year.

Persons: Bunge, Greg Heckman, Privately, Viterra, Archer, Louis Dreyfus Co, Glencore, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: YORK, Bunge Ltd, Glencore Plc, Canada, Plan Investment Board, Columbia Investment Management Corp, Bloomberg News, Daniels, Midland Co, Cargill Inc, Bunge, Midland, Agriculture, Thomson Locations: Ukraine, Glencore, Brazil, Viterra, United States, Gavilon, New

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