VT shares haulted, again.

[boarderbloke]

On BBN just now,

VT says they won't even show the books unless the offer is $16.oo/sh

Trading now at $15.99/sh

Glencore says they're not interested in the farm supply side of the business

[boarderbloke]

Glencore
Cargil
ADM
Bunge
listed as those interested. News release from VT coming.

[SASKFARMER3]

Glencore Grain
Agrium Crop input

[LWeber]

Related News:Canada .Viterra Advances After Report Minimum Bids Set at C$16
By Simon Casey - Mar 15, 2012 7:35 AM

QUEUEQ..Viterra Inc. (VT), the Canadian grain handler that has attracted Glencore International Plc as a potential suitor, rose before being halted in Toronto after dealReporter said bidders had to offer at least C$16 ($16.13) a share to access the company’s data.

Viterra climbed 9.1 percent to C$15.99 before being suspended. The stock has gained 46 percent since March 8, the day before Regina, Saskatchewan-based Viterra said it had received “interest from third parties.”

Archer Daniels Midland Co., Bunge Ltd. (BG) and Noble Group are in the company’s data room, dealReporter said today, citing a person familiar with the situation whom it didn’t identify.


Glencore, the world’s largest publicly traded commodities supplier, expressed an interest in Viterra, a person familiar with the situation said March 11.

[Kodiak]

If grain and crop inputs are sold to different owners, it could put both at a competitive disadvantage to the operators who still do both. Interesting times ahead! Things are never dull in ag

[LWeber]

CALGARY, ALBERTA--(Marketwire - March 15, 2012) - Viterra Inc. (TSX:VT) (ASX:VTA) ("Viterra"), at the request of Market Surveillance on behalf of the Toronto Stock Exchange, acknowledges that, in response to expressions of interest from third parties to acquire the Company, a process has been established by the Board of Directors of Viterra, which includes confidentiality agreements being entered into and the provision of due diligence.

Viterra is aware of press reports speculating about, among other things, the process, parties involved and third parties expressions of interest of at least Cdn$16 per Viterra common share. Viterra cautions investors not to rely on these press reports as there can be no assurance that a transaction will occur and that if one does occur, there can be no assurance at what price it will be completed.

Viterra has engaged financial and legal advisors to provide support with this process.

A further announcement will be made if appropriate.

[BTO_farmall]

This has got To Be The Dumbest ****in Thing I ever Heard, Split The Grain From The Retail Side, Talk About ****in Stupid. Agrium Buys The Retail Side, Comedian Farmers are Literally, Not Figuratively, LITERALLY ****ed!!!!!!!! Know One Thing, This Goes Down, Make My Own God Damn Rules.... Klick Klack, Pow Pow............

[LWeber]

Glencore is in advanced talks with two Canadian companies to launch a joint bid for Viterra

http://www.ft.com/cms/s/0/809eac42-6ec3-11e1-afb8-00144feab49a.html#ixzz1pDH8P3IE

Glencore is in advanced talks with two Canadian companies to launch a joint bid for Viterra, the Toronto-listed grain trader now at the centre of a takeover battle.

The London-listed commodities trading house is preparing a bid with Agrium, a fertiliser producer, and Richardson International, a privately owned grain trader. A formal offer is expected as soon as early next week, industry executives said.

New York-listed grain traders Archer Daniels Midland and Bunge are also planning to bid for Viterra, industry executives said. However, Cargill, the world’s biggest food commodities trader, does not plan to bid. ADM is seen as the top rival to Glencore, executives said.

Glencore’s attempt to expand in agriculture comes as Ivan Glasenberg, chief executive, is trying to merge his trading house with Xstrata, the London-listed miner, to create a $90bn natural resources champion.

Viterra said on Thursday it had started a formal sale process, providing potential bidders wanting to carry out due diligence with access to its financial information. The company said it was aware of speculation of interest at C$16 a share, although it said “there can be no assurance that a transaction will occur” or at what price.

Viterra shares jumped 9 per cent after the announcement to C$16.07, valuing it at more than $5.5bn. The shares have risen more than 45 per cent since the grain trader disclosed on Friday it had been approached.

The price tag would remain a challenge for the bidders because leading shareholders are asking for C$15-C$19. Amit Wadhwaney, at Third Avenue Management, the third-largest shareholder in Viterra, said a deal would be only possible in the “high teens”.

The interest on Viterra comes as the lucrative Canadian grain market, one of the largest globally, opens to private sector competition for the first time since the second world war.
The end of the monopoly of the Canadian Wheat Board is set to boost the profitability of the commercial traders. The CWB, with sales of $5.1bn in 2010, has had exclusivity in the marketing of wheat and barley from the prairie provinces of western Canada since 1942. But the ruling Conservative government introduced legislation late last year to end the monopoly by August.

Glencore is planning with its partners to split Viterra into three parts, with the trading house taking the grain business, Agrium buying the retail fertiliser business and Richardson taking over the food processing business.

Mr Glasenberg met investors in the US this week and made no secret of his desire to bulk up Glencore’s business in asset-heavy agriculture trading in North America. However, people who met Mr Glasenberg in New York suggested that Glencore had limited interest in retail assets.

Glencore would also be likely to sell Viterra’s stake in the Medicine Hat fertiliser complex, the people added, with its partner CF Industries seen as a likely buyer for the stake. Viterra owns 34 per cent of Canadian Fertilizers Limited, which built the Medicine Hat plant in the 1970s, while CF Industries holds 66 per cent.

Glencore, Viterra, Bunge, ADM and Cargill declined to comment. Agrium and Richardson did not immediately return calls seeking comment.

Additional reporting to Anousha Sakoui in London