In effect, that means Glencore is mainly interested in acquiring Viterra's lucrative overseas assets — including Australia's largest grain handler — while its vast Canadian assets would remain domestically controlled.

Alberta Investment Management Corp., Viterra's largest shareholder with a roughly 16 per cent stake or about 60 million shares, has already given its blessing to the takeover.

Glencore says further details will be forthcoming in a future release, but for now, the plan is for Agrium to acquire the majority of Viterra's retail agri-products business, including its 34 per cent interest in Canadian Fertilizer Limited, for $1.8 billion.

And Richardson International will acquire 23 per cent of Viterra's Canadian grain-handling assets, certain agri-centres and certain processing assets in North America for $800 million in cash, Glencore says.