London Newspapers print Glencore after Viterra

[LWeber]

http://www.telegraph.co.uk/finance/commodities/9136122/Glencore-in-3.5bn-bid-for-Canadian-grain-giant-Viterra.html

(3,5 billion pounds converts to 5.435 billion CAD

The Sunday Telegraph understands the approach by the commodities and mining giant triggered Viterra's statement to the Toronto Stock Exchange on Friday that it had received an unsolicited expression of interest from third parties.

In a sign that he intends to press ahead with Glencore's expansion strategy despite being in the midst of a £53bn merger with Xstrata, chief executive Ivan Glasenberg is understood to want to bolt Viterra on to its growing grain business.

Earlier this year The Daily Telegraph disclosed that Glencore is searching for an individual with knowledge of the agriculture market to join as a non-executive director.

Glencore's agricultural arm controls 8.7pc of the "addressable" global grain market. Its agricultural business had sales of $10.4bn (£6.6bn).

Chris Mahoney, head of Glencore's agriculture arm, is one of the company's richest senior staff members, with a 2.08pc shareholding worth £588m based on Friday night's closing price of 408.7p.

Shares in Viterra rose 24pc following Friday's announcement, giving a market capitalisation of CAN$5bn (£3.2bn).
Glencore's approach comes at an opportune time, as the Canadian government passed a law last year ending the Canadian Wheat Board's market monopoly.

Viterra currently controls 45pc of Canada's grain handling market.
In addition, in November 2011, Viterra's biggest shareholder, Alberta Investment Management rejected its proposed board of directors, calling them "unresponsive."

A Glencore spokesman declined to comment.

[wd9]

Time to start a grain elevator sign building business.

[FarmRanger]

AWPAGRICOREUGGAGPROSASKPPOOLVITE
RRAGLENCORE Inc.

Easy.

[LEP]

Glencore is also merging with Xstrata another commodity and mining giant.

They are making a play for Viterra and Gavilon group (formerly known as Conagra).

Total sales would be over $233 billion.

Well this should make things interesting.

[TOM4CWB]

Now we know where $.25Trillion of the quantitative easing currency went...

[BTO_farmall]

The $64 Million Dollar Question IS, Drum Roll Please........ George Soros Going to Be Parta The Deal????? He is Part Owner in Gavilawn.........

[bucket]

Hard to believe that 45 percent of Canada's grain industry is only worth 5 billion.

Especially when you consider that Stewie wells and Allen Oberg are trying to get 15 billion and they had no assets.

WTF!

[ASRG]

Alison is becoming quite the little liar!

[riders2010]

Glenn Beck is gonna have a field day with this one. Isn't Soros the guy Beck claims is part of a major world conspiracy of the world's richest most powerful people to control the entire world by breaking the financial economy first then creating a global government etc.

I would think controlling the world food supply would be quite an easy way to control anything?

[bucket]

If gavilon is in on the deal, this all seems too cheap.

[agstar77]

Ritz is taking yodeling lessons at an undisclosed location. Will be appointed to Glencore B.O.D. when he quits.

[cottonpicken]

Never understood why beck keeps diving into fantasy
land about groups controlling the world when the
reality of our big fluid system is more mind boggling
scary.

[BTO_farmall]

Send these Pork Bellies to Slaughter. Just got off The Phone with Kaizzer, Said we ship enough in, He'll cut us a Deal at his new Cow Plant. Shit, I said just get these Fat Hogs out of sight, He can keep all The Profits!!!!!!!!!!! Calling Saskher99er' next, See if he'll do The Trucking fer us, Seein as Long Haul Trucking's a little slow this Winter, er' should I say What Winter!!!!!!!!!!!!

[bucket]

I have never understood why companies like viterra sell out, they should be making themselves bigger.

Shareholders will sell so they can buy a new bmw or something and it will be worthless in three years. Maybe the current board isn't the right group, so boot their ass out and put in some new talent.

But they are just throwing the baby out with the bath water if they give in to this deal.

Ipsco is another prime Canadian example. One of the strongest steel companies in North America sold first to the swedes, who then parted the company out to the russians. Ipsco was flush with cash so upper management took their cut for doing SFA.

[grassfarmer]

Should ask her if she was in Innisfail today - I
saw the Redford bus cruising through. Probably
deny it. Reminded me of the Billy Connolly joke
where he said "this place is the asshole of the
world" to which a resident responds "Oh, are
you just passing through then?"