Global commodity producer Glencore (GLNCY) said Tuesday it is trying to woo U.S. agricultural commodities transportation and trading company Bunge (BG), whose shares skyrocketed by more than 16% in in regular trading. Glencore shares slipped 2% after it confirmed its joint venture, Glencore Agriculture, "made an informal approach to Bunge Limited regarding a possible consensual business combination." It added that "there is no certainty that any transaction will occur." Glencore has been selling assets to improve its balance sheet, which was weighed down by acquisition debt as commodity prices faltered. Based in Switzerland, Glencore has a market capitalization of more than $55 billion and controls roughly 150 mining, metals, oil and agricultural assets in 50 countries.
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