A Viterra grain elevator outside of Indus, Alta. on April 23. Canada’s Competition Bureau has come out against the proposed US$8.2-billion merger be

Review of US$8.2-billion agriculture merger between Viterra and Bunge draws opposition from Competition Bureau

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2024-04-25 06:00:08

A Viterra grain elevator outside of Indus, Alta. on April 23. Canada’s Competition Bureau has come out against the proposed US$8.2-billion merger between the agriculture division of Glencore PLC, which includes Viterra, and Bunge Ltd., citing 'substantial anti-competitive effects' in Canada. Gavin John/The Globe and Mail

Canada’s Competition Bureau has come out against U.S. grain dealer Bunge Ltd.’s BG-N proposed US$8.2-billion acquisition of agriculture giant Viterra, citing a number of substantial anti-competitive concerns.

Following a review, Competition Commissioner Matthew Boswell determined the deal is likely to lessen competition in agricultural markets in Canada in several areas such as grain sales, storage and processing operations. The bureau’s report also raised concerns surrounding G3 Global Holdings LP, a competitor to Viterra that is 25-per-cent owned by Bunge.

Viterra, the agricultural arm of global commodities producer Glencore PLC GLNCY, operates a network of grain elevators, special crops facilities, processing plants and port terminals across Canada and parts of the United States.