Viterra shareholders support Glencore takeover bid
Swiss-based commodities giant Glencore is one step closer to taking over Viterra getting a lot of support from shareholders.
Viterra shareholders voted Monday morning 99 per cent in favour of Glencore's takeover bid for the grain handler. Under the proposed deal they will get $16.25 per share.
An independent review of the takeover was released earlier in May, and was generally favourable. There was concern over how it would impact fertilizer costs to producers.
At the time, the province called on the federal government to get assurances that Glencore would follow through on pledges to create a North American headquarters in Regina. They also want more investment in Saskatchewan.
Viterra expects the deal to close by the end of July if it gets government and court approval for a foreign takeover.
Edited by News Talk Radio's Adriana Christianson