February 5, 2018 / 1:47 PM / 10 months ago

Archer Daniels Midland could buy Bunge this week - Bloomberg

Feb 5 (Reuters) - U.S. grains trader Archer Daniels Midland Co could reach an agreement to buy smaller rival Bunge Ltd as early as this week, Bloomberg reported on Monday, citing people familiar with the matter.

ADM is in advanced talks to acquire Bunge, Bloomberg said. (bloom.bg/2Egl41h)

Reuters, citing a source, reported last month that ADM had proposed a takeover of Bunge.

Shares of Bunge were up about 6 percent and ADM was up more than a percent in premarket trading.

As of Friday’s close, Bunge had a market value of about $11 billion, while ADM was valued at $23 billion.

Both the companies could not be immediately reached for comment. (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

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