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Glencore has a standstill agreement that temporarily prevents it from making a hostile bid for Bunge, according to people familiar with the matter, raising the possibility Glencore will renew its effort ...
Shares of U.S. commodities trader Bunge Ltd surged on Friday after the Wall Street Journal reported that Glencore PLC had a standstill agreement that temporarily prevents the Swiss company from making a hostile bid for Bunge. Bunge had rebuffed a takeover approach by Glencore in May. Speculation has swirled for months that Glencore would make another takeover approach. The standstill agreement suggests it is still interested in a deal and may be only biding its time, the newspaper said.
WHITE PLAINS, N.Y., Oct. 4, 2017 /PRNewswire/ -- Bunge Limited (BG) will announce its results for the quarter ended September 30, 2017, on Wednesday, November 1, 2017, prior to the market opening. Bunge Limited's management will host a conference call at 8:00 a.m. EDT on Wednesday, November 1, 2017 to discuss the company's results. Additionally, a slide presentation to accompany the discussion of results will be posted on www.bunge.com.
Global commodities trader Cargill Inc reported a 14 percent rise in quarterly profit on Wednesday as strong beef demand and ample supplies of cattle lifted earnings for its animal nutrition and protein segment for a fifth straight quarter. The gains in protein offset a weaker year-on-year result for Cargill's origination and processing unit as huge global grain stocks weighed down commodity prices and minimized market volatility, limiting trading opportunities.
Another key factor: China - the world's second-biggest corn grower - adopted stockpiling policies a decade ago when crop supplies ran thin, resulting in greater production than the world needs. "I think the norm is where we are now," said Bryan Agbabian, director of agriculture equities at Allianz Global Investors. Allianz investors seem to agree: The value of two agriculture equity funds that Agbabian manages fell to $300 million (224.03 million pounds) this year from $800 million in 2011 as crop prices slid, he said.
U.S. grains trader Bunge Ltd issued $1 billion of debt to replace a credit line financing a $946 million investment in a Malaysian palm oil company on Monday. It is paying $946 million for a 70 percent stake in IOI Loders Croklaan and had said, when it announced that deal on Sept. 12, that it would use a $900 million credit facility to help pay for it. On Monday, Bunge said the credit facility would be terminated once the debt issue was finalized.
WHITE PLAINS, N.Y. , Sep. 18, 2017 /PRNewswire/ -- Bunge Limited (NYSE: BG) today announced that Bunge Limited Finance Corp., its wholly owned finance subsidiary, has priced a public offering of $400 million ...
Rating Action: Moody's assigns Baa2 rating to Bunge's new notes; outlook negative. Global Credit Research- 18 Sep 2017. New York, September 18, 2017-- Moody's Investors Service, assigned Baa2 ratings to ...
Rating Action: Moody's affirms IOI Corp's Baa2 ratings; changes outlook to stable. Global Credit Research- 15 Sep 2017. Singapore, September 15, 2017-- Moody's Investors Service has affirmed the Baa2 issuer ...
BRASILIA/SAO PAULO, Sept 14 (Reuters) - Brazilian police raided the home of Agriculture Minister Blairo Maggi on Thursday in a corruption investigation linked to his time as a state governor, adding to the graft scandals rocking President Michel Temer's government. Last month the Supreme Court opened a bribery probe into Maggi's role in a scheme known as "mensalinho," a payment of a monthly stipend to lawmakers in exchange for political support in his home state of Mato Grosso. According to a person with direct knowledge of the matter, the raid was linked to a plea deal by former Mato Grosso state governor Silval Barbosa, who accuses Maggi of participating in the corruption scheme.
Moody's Investors Service cut its outlook for Bunge Ltd on Wednesday and cautioned that without much improved earnings it could cut the U.S. agribusiness' credit rating to just a step above junk status. The agency revised Bunge's outlook from stable to negative after it opened a $900 million credit facility to help fund a deal for a controlling stake in Malaysian palm oil producer IOI Loders Croklaan. Despite stable credit metrics in recent years, two straight quarters of weak results raised concern that debt-funded acquisitions could weaken Bunge's credit rating, John Rogers, senior vice president at Moody's, said in a release.
Rating Action: Moody's changes Bunge's outlook to negative. Global Credit Research- 13 Sep 2017. New York, September 13, 2017-- Moody's Investors Service affirmed the Baa2 long-term debt ratings of the ...
NEW YORK, NY / ACCESSWIRE / September 13, 2017 / Bunge Limited and partners launch a Brazil database to combat deforestation which sent shares of its stock flying higher in Tuesday trading. Shares of DowDuPont ...
WHITE PLAINS, N.Y., Sept. 12, 2017 /PRNewswire/ -- Bunge Limited (BG) ("Bunge" or "the Company"), a leading global agribusiness and food company, today announced that it has entered into a definitive agreement to acquire a 70% ownership interest in IOI Loders Croklaan ("Loders") from IOI Corporation Berhad ("IOI") (KLSE:IOICORP) for $9461 million, comprising €297 million and $595 million in cash. The transaction expands Bunge's value-added capabilities, reach and scale across core geographies to establish Bunge as a global leader in B2B oil solutions. Following the completion of the transaction, Bunge's enhanced product offering will further support the growth of its customers around the world.
At a warehouse in the heart of Brazil's agriculture sector, farmer Rafael Bilibio watches truck after truck line up to unload corn onto the ground outside the huge storage bins. "For the first time in history, producers here will pile one harvest on top of the other," said 33-year-old Bilibio, who cultivates some 4,700 hectares of soy and corn near Vera, in the mid-North of the state. The situation is dragging down farmer incomes and making it hard for traders like Archer Daniels Midland (ADM) and Bunge Ltd to make money.
Soybean crushers in China's Shandong province have suspended some operations due to port delays that are holding up import cargoes of the oilseed, and amid pressure from high soymeal stocks, industry portal Cofeed reported on Thursday. Soymeal prices in Rizhao (SM-EXFRZH-STD) - the main import hub for Shandong province, China's top crushing region - are up nearly 5 percent from last week, hitting their highest since early May. Crushers in Shandong now make about 40 yuan ($6.01) for each tonne of soybean processed (CNSOY-RZO-MRG), after losing money on each tonne for most of the last six months.
WHITE PLAINS, N.Y. , Aug. 8, 2017 /PRNewswire/ -- Bunge Limited (NYSE: BG) today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.46 per common share. The dividend ...
With Brazilian farmers storing soybeans due to low prices, Bunge Ltd is aiming to change the way it buys crops in an effort to prompt more selling and rebuild profit margins. Bunge, one of the world's largest oilseed processors, wants to get farmers to agree to sell more of their upcoming crops to the company ahead of harvest time by offering extra help with services, such as financing and price risk management, Chief Executive Soren Schroder told analysts on Wednesday on a conference call. Bunge and its competitors have suffered as Brazilian farmers have put soybeans from the 2017 harvest in storage, rather than selling them when prices are low.
The White Plains, New York-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, came to 17 cents per share. The results exceeded Wall Street expectations. ...
Bunge Ltd kept the door open on Wednesday to a sale of the company as it reported a 34 percent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should also help improve performance by the agricultural commodities trader after its second straight weak quarterly result. Bunge and rivals Archer Daniels Midland Co, Cargill Inc and Louis Dreyfus Co, known as the ABCDs in global grain trading, have been stung by a glut of crops following four years of bumper harvests around the world.
U.S. agricultural commodities trader Bunge Ltd will "evaluate the best path" for the company with shareholders in mind, Chief Executive Officer Soren Schroder said on Wednesday when asked whether ...
Bunge Ltd., one of the world’s largest crop traders, has reassured investors it’s open-minded about its options following takeover interest from Glencore Plc and declining profits.
U.S. agricultural commodities trader Bunge Ltd reported a nearly 34 percent fall in quarterly profit, as slow farmer selling in South America hurt margins in its agribusiness. The company said net income ...