Bunge Denies Merger Talk With Glencore

(RTTNews) - In response to a statement issued by Glencore plc, Bunge Limited (BG) said Tuesday that it is not engaged in business combination discussions with Glencore Agriculture Limited or Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L).

Bunge said it is committed to continuing to execute its global agri-foods strategy and pursuing opportunities for driving growth and value creation.

Earlier today, Glencore confirmed that Glencore Agriculture Limited (Glencore's non-consolidated agriculture joint venture) has made an informal approach to Bunge Limited regarding a possible consensual business combination.

Following this informal approach from Glencore Agriculture Limited, discussions may or may not materialise and there is no certainty that any transaction will occur, Glencore said.

Previously, the wall street journal reported Tuesday that Glencore approached grain trader Bunge Ltd about combining. If a deal does emerge, it would be substantial. Bunge had a market capitalization early Tuesday of nearly $10 billion. Including debt, its so-called enterprise value was about $15 billion.