GLNCY Glencore Plc (PK)

1255 GMT - Glencore is among the most mentioned companies across news items over the past 12 hours, according to Factiva data, after the Anglo-Swiss commodity miner agreed with U.S. grain trader and oilseed processor Bunge a merger between the latter and Glencore-backed Viterra. The cash-and-stock deal will see Glencore receive around $3.1 billion in Bunge stock and $1.0 billion in cash for its around 50% stake in agriculture trader Viterra, resulting in Glencore holding 15% of the new company. "The combined group would be a premier pure-play agribusiness solutions company, well placed to meet increased global demand," Glencore Chief Executive Gary Nagle said. The deal puts Glencore firmly on a path to portfolio optimization, Citi Research analysts write in a research note. The merger "should be well received by the market as the market was assigning little/no valuation of it in Glencore," they add. The merger is expected to close in mid-2024. Dow Jones & Co. owns Factiva. (christian.moess@wsj.com)

(END) Dow Jones Newswires

June 13, 2023 09:13 ET (13:13 GMT)

Glencore (PK) (USOTC:GLNCY)
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부터 10월(10) 2024 으로 11월(11) 2024

Glencore (PK) (USOTC:GLNCY)
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부터 11월(11) 2023 으로 11월(11) 2024