Bunge Stock Rises After It Hires JPMorgan and Shearman & Sterling to Defend Against Takeover Bid
Glencore announced an unsolicited bid for Bunge last month

New York-based agribusiness company Bunge  (BG) has hired JPMorgan  (JPM) and law firm Shearman & Sterling, among others, to help defend itself against an unsolicited takeover bid from Swiss commodity trader and miner Glencore  (GLNCY) .

Glencore announced last month that it had made a bid for Bunge, but Bunge responded by saying that it was not engaged in takeover discussions with the company and was instead looking for opportunities for independent growth. 

Bunge does not have a poison pill provision that would protect it from an activist investor purchasing a large stake and initiating an ouster of its board. 

Bunge shares were up 0.4% premarket Monday. 

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