- Bunge and Viterra, supported by Glencore, have proposed the sale of assets in two European Union countries, reports Investing.com.
- The aim of such action is to obtain the consent of the EU antitrust office regarding the merger of these giants.
- It's a lot of money, worth USD 34 billion.
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Bunge and Vitter merger?
We remind you that the companies announced the merger a year ago to better compete with global giants Archer-Daniels-Midland and Cargill. However, some doubts have arisen.
Now it turns out that the EU antitrust supervision authority has extended the deadline for issuing a decision in this case from July 18 to August 1.
Will there be a merger?
As reported by the website, Bunge and Viterra initially hoped to obtain unconditional EU approval after an initial review of the deal by regulators. However, it later emerged that the EU's competition enforcement authority had expressed concerns about specific issues.
A Bunge spokesman said the company was in constructive talks with the European Commission and confirmed it had offered concessions, without specifying what they were, Investing.com reports.
Interestingly, it was also written that the EC is expected to ask competitors and customers for opinions before making a decision.
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BP will buy Bunge's shares in a Brazilian biofuel company 
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Bunge and Viterra merger. A giant worth approximately USD 34 billion
