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Glencore takeover given green light by Viterra shareholders
Shareholders of Canada’s largest grain handler, Viterra, have voted overwhelmingly in favor of a friendly takeover bid by Swiss commodities trader Glencore International, pushing the biggest deal in years for the global agricultural sector closer to reality.
The deal was supported by 99.8 per cent of shareholders, far more than the required two-thirds majority.
Glencore offered Viterra C$16.25 per share, or C$6.l billion (£3.7bn) 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.