2023-06-13 06:38:17 ET
Bunge ( NYSE: BG ) -2.2% pre-market Tuesday after saying it agreed to acquire Viterra in a cash and stock deal valued at ~$18B including debt, creating one of the world's largest agriculture traders.
Under the deal terms, Viterra shareholders would receive ~65.6M Bunge ( BG ) common shares with an aggregate value of $6.2B, and ~$2B in cash, representing a consideration mix of roughly 75% Bunge stock and 25% cash; Bunge also agreed to assume $9.8B of Viterra debt.
Bunge ( BG ) also plans to buy back $2B of its stock to enhance accretion to adjusted EPS.
Viterra shareholders would own 30% of the combined company upon the deal closing, and ~33% after completion of the repurchase plan.
Bunge ( BG ) said it expects the deal will be accretive to its adjusted EPS in the first full year after closing and continue to improve with the realization of synergies.
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For further details see:
Bunge to buy Viterra in $18B cash and stock deal