The Agricultural Producers Association of Saskatchewan (APAS) has voiced significant concerns regarding Bunge’s proposed acquisition of Viterra. The federal Canadian cabinet is currently deciding whether to approve the deal. APAS has issued a list of six measures it deems necessary for protecting producers’ interests if the merger proceeds. These include requiring Bunge to divest its 25% stake in G3 and certain Viterra assets, modernizing grain contracts, improving market data transparency, conducting a comprehensive railway cost review, extending interswitching rights, investing in short-line rail infrastructure, and ensuring a transparent process for any facility closures arising from the merger. APAS President Ian Boxall highlighted these points, referencing a recent House of Commons agriculture committee report that emphasizes the need for fairness, transparency, and competition throughout the food supply chain. Furthermore, a study by the University of Saskatchewan in collaboration with several agricultural organizations projected that the merger could lead to over $700 million in annual economic losses for Prairie farmers. Bunge, however, has disputed the findings. The $8.1 billion deal, announced last spring, is anticipated to close by mid-2024.
Agriculture, Transportation, Mergers & Acquisitions,Canada, Saskatchewan
https://mergersacquisitions.einnews.com/article/717845153/ESjdELnwbgUeRkmS?ref=rss&ecode=Q1vNcweEggLWKz7L