Live News: Bunge shares rise after merger talks with Viterra

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

A potential merger, first reported by Bloomberg, would create a competitor to Cargill and Archer-Daniels Midland.

St Louis-based Bunge, which generated $1.6 billion in net income last year, buys and sells grain around the world and has a network of processing and storage facilities.

Viterra, formerly known as Glencore Agriculture, previously approached Bunge in 2017 about a possible deal. Viterra reported net income of $1 billion last year.

Glencore and Bunge declined to comment. Viterra did not respond to a request for comment.