After numerous media reports emerged Tuesday afternoon, Switzerland-based Glencore Agriculture Ltd. (GAL) confirmed in a statement that it had, in fact, made an “informal approach” to U.S. agribusiness Bunge Ltd. about a possible takeover.
“Following this informal approach from GAL, discussions may or may not materialize, and there is no certainty that any transaction will occur,” GAL said in a statement.
Bunge shares saw the largest intra-day rise sinc
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