Bunge Stock Spikes on Glencore Takeover Reports
Shares of U.S. agribusiness company Bunge (BG) - Get Bunge Limited Report spiked more than 15% Tuesday afternoon after the company received a takeover bid from Swiss miner Glencore (GLNCY) , sources told the Wall Street Journal.
The sources did not know whether any discussions concerning the offer have taken place, but any potential sale would be substantial given Bunge's $10 billion market cap and $15 billion enterprise value.
Bunge is one of the four global agribusiness companies that dominate the market, generating nearly $43 billion in revenue last year.
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