Reuters: Mergers News: UPDATE 1-Saskatchewan govt to review Viterra deal

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UPDATE 1-Saskatchewan govt to review Viterra deal Mar 29th 2012, 15:45 March 29 | Thu Mar 29, 2012 11:45am EDT March 29 (Reuters) - The Government of Saskatchewan said it will review the proposed acquisition of Viterra by Swiss-based commodities trader Glencore. On March 20, Glencore agreed to buy Viterra, Canada's largest grain handler, for C$6.1 billion ($6.2 billion). Glencore will acquire Viterra and then sell off some parts of the company to Canada's Richardson International and Agrium, a step that should allay concerns that Ottawa could block the deal on national sovereignty or competition grounds. Agribusiness consulting firm, Informa Economics, will conduct the review of the proposed takeover, Saskatchewan premier Brad Wall said in a statement. Wall's opposition to mining giant BHP Billiton's $39 billion takeover of Saskatchewan-based Potash Corp in 2010 was a big factor in the federal government's scuttling of the deal.

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