Bunge and Viterra, two major agricultural companies, are offering concessions to win EU antitrust approval for their $34 billion merger. This move comes after the European Commission expressed concerns about the deal’s potential impact on competition.
The companies announced their merger last year, aiming to challenge industry giants ADM and Cargill. The merger has drawn scrutiny from regulators in North America, South America, and China, including the Canadian Competition Bureau and farm groups.
While the concessions are not publicly detailed, they are aimed at addressing specific concerns raised by the EU. The European Commission has extended its deadline for a decision to August 1, signaling a careful consideration of the concessions.
The EU will seek feedback from competitors and customers before making a final decision. If concerns persist, they may launch a four-month investigation. The outcome of the EU’s review is critical for the success of the merger and could have significant implications for the global agricultural industry.