Reuters: Mergers News: Australia approves Glencore's takeover of Viterra

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia approves Glencore's takeover of Viterra Jun 7th 2012, 05:58 MELBOURNE, June 7 | Thu Jun 7, 2012 1:58am EDT MELBOURNE, June 7 (Reuters) - Australia's competition regulator approved a friendly takeover bid by Swiss commodities trader Glencore International Plc of Viterra Inc , clearing another hurdle for the biggest deal in years in the global agricultural sector. Glencore offered Viterra C$16.25 per share, or C$6.l billion, in March for the company, which owns the biggest share of Western Canada's grain storage and farm supply outlets, as well as nearly all grain storage capacity in South Australia. The deal would be unlikely to substantially lessen competition as post merger Glencore would continue to face competition from a number of significant competitors in the market for grain trading in South Australia, the ACCC said.

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