Glencore , already the world's No. 1 diversified commodities trader, has agreed to purchase Canada's largest grain handler in a C$6.1 billion ($6.2 billion) deal that will shake up an industry that has thrived on surging global demand for food and fuel.Glencore will acquire Viterra Inc and then sell off some parts to Canada's Richardson International and Agrium Inc . By divesting some grain elevators, mills and farm-supply dealers, the Swiss-based trader aims to allay concerns that Ottawa might block the deal on national sovereignty or competition grounds.Viterra will give Glencore a powerful position in the Canadian market, which will become more open to competition this year with the disbanding of the world's last major marketing monopoly. The company is also big in South Australia, a second grain-growing center.Cementing Glencore's status as a commodity-trading powerhouse, the deal will give it a huge new presence in grains, an area now dominated by Archer Daniels Midland, Cargill and Bunge, complementing its current strength in metals, minerals and oil.
Agrium Inc. (Agrium) is a global producer and marketer of agricultural products. Shares of AGU traded higher by 2.17% or $1.86/share to $87.60. In the past year, the shares have traded as low as $63.93 and as high as $92.94. On average, 705366 shares of AGU.TO exchange hands on a given day and today's volume is recorded at 1042954.
Viterra Inc. is a vertically integrated global agri-business company. Shares of VT fell by 0.38% or $-0.06/share to $15.91. In the past year, the shares have traded as low as $9.30 and as high as $16.25. On average, 2619770 shares of VT.TO exchange hands on a given day and today's volume is recorded at 74527632.
Agrium Inc. (Agrium) is a global producer and marketer of agricultural products. Shares of AGU traded higher by 1.76% or $1.53/share to $88.27. In the past year, the shares have traded as low as $60.15 and as high as $96.20. On average, 1098910 shares of AGU exchange hands on a given day and today's volume is recorded at 2042781.
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