$8.2B US merger of Viterra and Bunge now complete

CBC

The $8.2-billion US merger of Bunge and Viterra is now complete, forming one of the world’s largest agribusiness companies.

The deal was confirmed in a news release issued by the Missouri-based Bunge on Wednesday. It comes nearly six months after the Canadian government approved the merger with Viterra, formerly known as the Saskatchewan Wheat Pool.

The deal was heavily criticized by agricultural producers, who fear it will reduce competition in the grain and canola markets.

Aleana Young, the Saskatchewan NDP’s critic for the economy, said those fears have not gone away since the deal was approved by the Canadian government.

“We’re a mighty province, but we need competition in critical sectors of our economy. So again, to see the government completely absent despite farmers raising alarm bells for over a year has been educational to say the least,” Young said in an interview on Thursday.