Following the federal approval of Bunge’s acquisition of Viterra on Tuesday, Jan. 14, stakeholders made their voices heard in a wave of reactions to the controversial merger.
Tag Archives Merger
Stakeholders react to Bunge-Viterra merger approval
Bunge seeks antitrust approvals for Viterra merger in major jurisdictions
Commodities market competition healthy in Canada, U.S., CEO says
Minneapolis | Reuters — Bunge has filed for regulatory approvals for its merger with crop handler Viterra in “major jurisdictions” in North and South America, Europe and China, and has gotten the green light from some of its smaller markets including Colombia, CEO Greg Heckman said on Thursday. The merger, which would create a company […] Read more
Bunge, Viterra confirm marriage plans
Firms to merge under Bunge banner
The grain handler built out from the foundations of the former Prairie pools is set to be absorbed into one of the world’s biggest grain trading firms in a cash-and-stock deal. After the news leaked out last month, Rotterdam-based Viterra confirmed Tuesday morning it’s “concluded an agreement” to merge into Bunge — the St. Louis-based […] Read more
Kansas City Southern plans to accept CP’s bid
Deal would create new lanes for Prairie freight, CP says
Reuters — U.S. railway Kansas City Southern said on Sunday it planned to accept Canadian Pacific Railway’s US$27.2 billion cash-and-stock acquisition offer as superior to its US$29.6 billion deal to sell itself to Canadian National Railway. CN now has until the end of Friday to submit a better offer or lose its deal with KCS. […] Read more
U.S. regulator rejects CN’s voting trust to buy Kansas City Southern
CP rips CN's play as 'illusory and not achievable'
Reuters — The U.S. rail regulator on Tuesday rejected a voting trust structure that would have allowed Canadian National Railway (CN) to proceed with its US$29 billion proposed acquisition of U.S. peer Kansas City Southern. The decision was a blow to the deal that would create the first direct railway linking Canada, the U.S. and […] Read more
U.S. railway’s board sticks with CN’s bid
Kansas City Southern board spurns sweetened CP bid
The board of directors for a U.S. railway facing takeover bids from each of Canada’s big two railways is sticking with Canadian National Railway’s (CN) proposal. The board for Kansas City Southern (KCS), in a release Aug. 12, said it unanimously agrees an upgraded Aug. 10 cash-and-stock bid from Canadian Pacific Railway (CP) “does not […] Read more
U.S. FTC votes to make ‘right to repair’ a priority
Commission also drops 1995 merger policy
Washington | Reuters — The U.S Federal Trade Commission voted Wednesday to make it a priority to address the issue of manufacturers pushing consumers to use licensed dealers to repair items ranging from smartphones to farm equipment, a practice that critics call anti-competitive. The five commissioners, three Democrats and two Republicans, voted unanimously to approve […] Read more
Hexo steps up cannabis M+A spree with Redecan deal
Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during […] Read more
Kansas City Southern sticks with CN as CP won’t raise bid
CN confident of regulatory approval
Reuters — Kansas City Southern on Friday reiterated that Canadian National Railway’s offer was “superior” after Canadian Pacific Railway refused to raise its bid, moving a step closer to creating the largest-ever merger of North American railways by transaction value. The Canadian rivals have been locked in a takeover battle for the U.S. railroad operator […] Read more
CN shareholder urges changes to Kansas City Southern deal
Fund manager also holds stake in CP
Reuters — Billionaire hedge fund manager Chris Hohn on Tuesday urged Canadian National Railway to abandon its $33.6 billion bid for Kansas City Southern unless the Canadian railway changed its agreement to drop a key feature that could invite more regulatory scrutiny. Hohn’s TCI Fund Management, which has a 2.93 per cent stake in CN, […] Read more
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