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Glencore CEO says Bunge not the only grain target for expanding in the Americas

From Seeking Alpha:

Glencore CEO Ivan Glasenberg says that although an acquisition of Bunge would be a good fit for the company, it was not the only target on its radar in its effort to expand its presence in the Americas where it lacks scale.

Glasenberg refuses to say whether Glencore would launch a hostile bid for BG, but reiterates that the company is eager to grow its agricultural unit.

“To really trade ag space, you need to be in all producing countries in the world so you can arbitrage your trading positions correctly,” the CEO tells the St. Petersburg International Economic Forum, but BG “is not the only [opportunity] out there.”

More at Seeking Alpha


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