The merger between Bunge and Viterra, valued at $8.2 billion, has been completed, creating a major agribusiness entity. The deal faced significant opposition from agricultural producers who are worried about decreased competition in the grain and canola markets. A report from the Competition Bureau indicated potential adverse effects on market competition. The Canadian government imposed conditions, including a commitment to keep Viterra's head office in Regina for five years and an investment of $520 million in Canada. Bunge's CEO highlighted the merger's potential to enhance organizational capabilities.
The $8.2-billion US merger of Bunge and Viterra is now complete, forming one of the world's largest agribusiness companies.
The deal was heavily criticized by agricultural producers, who fear it will reduce competition in the grain and canola markets.
Bunge's CEO Greg Heckman stated that the merger creates a more robust organization with enhanced capabilities and expertise.
Among the restrictions placed on the merger by Ottawa are a commitment to maintain Viterra's head office in Regina for at least five years.
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