Viterra in exclusive takeover talks

Stockhouse Editorial
0 Comments| March 19, 2012


Canada’s largest grain handler Viterra Inc. (TSX: T.VT, Stock Forum), after discussions with Market Surveillance on behalf of the Toronto Stock Exchange, announced Monday that it is in exclusive discussions with a third party regarding the possible acquisition of Viterra.

On March 15, 2012, Viterra issued a statement confirming it was aware of press reports speculating about, among other things, the process, parties involved and third parties' expressions of interest of approximately $16 per Viterra common share.

Viterra confirms that it has begun exclusive negotiations with a party and the basis of this exclusive negotiation is at a price which is consistent with our previous statement.

It has been widely speculated that Viterra is in talks with a trio that includes Glencore International Plc of Switzerland, privately owned Richardson International of Winnipeg and Calgary-based Agrium Inc. (TSX: T.AGU, Stock Forum) (NYSE: AGU, Stock Forum).

Viterra cautions investors not to rely on these press reports as there can be no assurance that an agreement will result or that a transaction will occur and that if one does occur, there can be no assurance at what price it will be completed.

A further announcement will be made if appropriate.

After falling 1.54% to $15.96 in early trading Monday, Viterra has a market cap of $5.93 billion, based on 372 million shares outstanding.


Tags: SHARES OUTSTANDING AGRICULTURAL INPUTS STOCK MARKET NEWS TRANSACTION

Rate this article
0 stars
v
Usefulness

Clarity

Credibility

Comments

No comments yet. Be first to comment!

Leave a Message

You must be logged in to access this feature.