Live news: Bunge shares rise after reports of merger talks with Viterra

Shares in Bunge, the world’s biggest oilseed processor, leapt as much as 5 percent on Thursday after reports of initial offer talks with Glencore-backed grain trader Viterra.

A prospective merger, which was initially reported by Bloomberg, would develop an agribusiness powerhouse equaling Cargill and Archer Daniels Midland.

St Louis-based Bunge, which produced $1.6 bn in earnings in 2015, purchases and offers grains worldwide, along with owning a network of processing and storage centers.

Viterra, which was previously called Glencore Farming, formerly approached Bunge about a prospective handle 2017. Viterra reported earnings of $1bn in 2015.

Glencore and Bunge decreased to comment. Viterra did not react to an ask for remark.