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

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

The potential merger, first reported by Bloomberg, would create an agricultural trading powerhouse to rival Cargill and Archer Daniels Midland.

St. Louis-based Bung, which brought in $1.6 billion in net income last year, buys and sells grain worldwide, as well as owns a network of processing and storage facilities.

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

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

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