EU Antitrust Regulators Set July 18 Deadline for Bunge-Viterra Merger Decision
Source: The DairyNews
European Union antitrust regulators are scheduled to deliver their decision on the proposed $34 billion merger between US grains merchant Bunge and Glencore-backed Viterra by July 18, according to a European Commission filing reported by Reuters on Monday.
The merger, announced last year, aims to form a major agricultural trading entity capable of competing with industry leaders such as Archer-Daniels-Midland and Cargill.
The European Commission, serving as the EU's competition watchdog, will conclude its preliminary review by the set date. It will decide whether to approve the merger with or without conditions, or if further investigation is warranted due to serious concerns regarding its impact on competition.
Bunge’s CEO, Greg Heckman, has expressed confidence that the merger might proceed without the need to divest assets, citing robust competition in the commodities markets across Canada, the United States, Brazil, Argentina, China, and parts of Europe. However, the Canadian competition authority has raised significant concerns, echoing apprehensions from various farming groups.
In addition to EU approval, the deal is pending regulatory clearance in key markets across North America, South America, and China, underscoring its global implications and the complex regulatory landscape it must navigate.
The European Commission, serving as the EU's competition watchdog, will conclude its preliminary review by the set date. It will decide whether to approve the merger with or without conditions, or if further investigation is warranted due to serious concerns regarding its impact on competition.
Bunge’s CEO, Greg Heckman, has expressed confidence that the merger might proceed without the need to divest assets, citing robust competition in the commodities markets across Canada, the United States, Brazil, Argentina, China, and parts of Europe. However, the Canadian competition authority has raised significant concerns, echoing apprehensions from various farming groups.
In addition to EU approval, the deal is pending regulatory clearance in key markets across North America, South America, and China, underscoring its global implications and the complex regulatory landscape it must navigate.
