The Australian Competition & Consumer Commission announced that the proposed acquisition by Bunge Global SA of Viterra Inc. is not likely to substantially lessen competition in any market in Australia, according to Bloomberg.
Bunge said last month that it did not anticipate issues from antitrust regulators reviewing its $8.2 billion takeover of Viterra that would require the US crop merchant to offload any businesses (GM Nov. 3, p. 30).
The assets being acquired from the Glencore Plc-backed grain company are in “very different places” and, even when in the same country, have “different strengths” than those operated by Bunge, CEO Greg Heckman said in an interview with Bloomberg. “We believe we should have very little breakage anywhere,” Heckman said, adding that Bunge expects to be able to keep “about all of our assets.”