Why did Viterra sell out? Who is Glencore?

[theplowboy]

I heard the rumours the past few days
and wonder why Viterra would sell at
this time. Already huge challenges
ahead with new CWB.

I am not sure how a Swiss based trading
company is going to be good for Western
Canadian farmers?

Anyone else uncertain about how things
are going to work this year?

[cottonpicken]

Canadian shareholders are *****s,its not good for
farmers but good for investors.

[rockpile]

The Plowboy. With or without the CWB change,
insiders have been speculating on Viterra's sellout
for quite some time now. They were ripe for the
picking. As for Glencore, they are not Swiss.
Controlled by an American named Mark Rich, who
spent time in jail and was pardoned at the last
minute by his good ole buddy Bill Clinton before he
left office. They are based in Switzerland because of
international tax laws and of course Swiss Banks
(wink, wink). Do a little digging - they have a
checkered past. And if anyone thinks this deal
happened overnight since last Friday, give your
head a shake! It's been in the making for several
months now, but only released to other possible
suitors to a counter offer at the last minute. This
whole deal smells bad. And the devil will be in the
details....

[SASKFARMER3]

Mayo wins rest loose. Well at least the
last shares I have of the Viagra will be
gone. No more!

[cottonpicken]

http://watch.bnn.ca/#clip641450

"a number of months"

Ya no kidding

[tstep]

What happens if the shareholders , when we have our vote in May, vote against all this??

[Choice2U]

I am guessing that the vast majority of shareholders of Viterra are NOT farmers so it really doesn't matter what "we" think. The shares were trading between $9.50 - $10.50 for the past 4 years or so. With this announcement, investors will see a 60% ROI ($10 to $16) in a month with nothing to show for the previous 4 years....do you really think they would risk saying "no" and have the shares go back down....Do you really think Mayo would not have his ducks in order and forgo a 60% return on all his stock and stock options...I don't think so....This buyout is good for the investors of Glencore, Agrium and the JRI family members. I have no problems with Glencore owning the grain handling assets. I do have a problem with Agrium getting a share of the Medicine Hat plant and getting a majority stake in the retail end of things. JRI getting bigger is not a problem. With that being said, there will be individual locations where things will have to be worked out because competition will be questionable.

[ColevilleH2S]

Wow Rockpile, good heads-up. All you have to do is wiki the guy and it makes your skin crawl. Iran, Mossad,!?!? this guy is way too involved in politics to run a grain company.

[sumdumguy]

I think viterra had a gravy train with the CWB. i
wondered why Mayo was pounding his chest as
the monopoly was dismantled. They had the
board by the b---s for a long time. Now we gotta
compete just like the rest. Oh shoot! no sugar
daddy.

[BTO_farmall]

This is The Biggest Scam in History ever Perpetrated on The Comedian Farmer. Inside Job at its Finest. Ask yerlseves what The **** does a 78 Year Old Man want outta The Comedian Grain Industry. Theys tellin us This Deal is Sooooooo Good fer Farmers, Oh it is eh, Then Why The **** was The Input Side Sold Off, Yous Think they would keep it all as One Entity seein as They have 50% Market Share. Why on Earth would you buy Something tryin To Be A Big Player in The Industry, Then sell a Bunch of The Assets off. Once Split, The Value is GONE, Angrium will never sell. Comedian Farmers Got ****ed Again, Again, & Again on This Deal, Tell Me Something I don't Already Know..................

[Burbert]

Crooks in gobermont running things eh!
Crooks running grain companies eh!
This is apparently a good thing from
Comedian framers eh?
What fn next, lumps in tractor fuel?
Piler on, wes Comedian love a challenge
eh!

[wilagro]

You ain't seen nothing yet. Wait until Harper and company finish screwing us with a Free Trade Agreement with Asia...then we will really know what it is to be screwed.