January 19, 2018 / 9:20 PM / a year ago

CORRECTED-Archer Daniels has made takeover approach to Bunge - WSJ

(In 2nd paragraph, corrects to say that Glencore is based in Switzerland, not London)

Jan 19 (Reuters) - Agricultural trader Archer Daniels Midland Co made a takeover approach to rival Bunge Ltd , the Wall Street Journal reported on Friday, citing people familiar with the matter. on.wsj.com/2mSY8L0

Archer Daniels' move comes after Switzerland-based Glencore made an informal approach to Bunge last year to discuss "a possible consensual business combination".

Bunge's shares closed up 11 percent at $77.56 on Friday and had a market cap of $9.79 billion.

Bunge and ADM were not immediately available for comment. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below