Glencore has agreed to acquire all of the issued and outstanding shares of Viterra for C$16.25 per share in cash by way of a court approved plan of arrangement.
The transaction price represents a premium of 48% over Viterra’s closing share price on the Toronto Stock Exchange of C$10.98 on 8 March, the day prior to Viterra’s announcement that it had received expressions of interest regarding a potential transaction, and 55% over Viterra’s 20- trading day volume weighted average trading price of C$10.48 per share ending on 8 March.
The transaction values Viterra’s equity at approximately C$6.1bn on a fully diluted basis. The transaction will be funded out of Glencore’s existing cash resources and available credit facilities.
Source: Glencore International
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