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Report: ADM makes takeover approach to Bunge

 

The Wall Street Journal reports that ADM has made a takeover approach to Bunge.

That could set up a possible bidding war with mining conglomerate Glencore, which has also indicated an interest in purchasing Bunge.

The Journal says details of the ADM approach are unclear and it’s possible neither company would succeed in buying Bunge, which had a market value of about nearly ten billion dollars as of Friday afternoon.