Text size [+][-] Wednesday November 19 2008GLOBAL EDITION
Home > Commodity bubble-driven deals
By Robert Cyran
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Bunge has agreed to acquire Corn Products International in a $4.4bn all-stock transaction. Each share of Corn Products will be exchanged for $56 of Bunge stock, a 31% premium to the closing price on June 20. Bunge will also assume $414m of Corn Products debt. The agricultural goods firms estimate the combination will achieve $100m to $120m in annual cost cuts and incremental profit. The deal is expected to close in the fourth quarter.
robert.cyran@breakingviews.com