The Western Canadian province of Saskatchewan said on Friday it wants Ottawa to impose conditions on Swiss-based Glencore’s C$6.1 billion ($6.1 billion) takeover bid for the country’s top grain handler, Viterra Inc, which is headquartered in Saskatchewan.
The federal Conservative government must decide whether the foreign takeover is of net benefit to the country. The independent Competition Bureau is also examining Glencore International Plc’s plans to sell parts of Viterra to Agrium Inc and Richardson International Ltd.
The deal would make Glencore, already the world’s biggest diversified commodities trader, a major player in grains alongside Cargill Inc, Archer Daniels Midland Co, Bunge Ltd and Louis Dreyfus Corp.