Viterra Inc. VT-T is bulking up for a $1-billion-plus takeover, raising $450-million in an equity issue through a bought-deal private placement to exempt purchasers. The Regina-based agribusiness conglomerate said yesterday that the proceeds "will provide a portion of the funding that may be required should Viterra determine that it will proceed with the acquisition of shares of ABB Grain Ltd." The equity issue is priced at $8 per share, and is conditional on the closing of a takeover of ABB Grain. Viterra had confirmed late Monday that it is in talks on a possible acquisition of ABB Grain, the former Australian Barley Board - a deal that could cost $1.4-billion.
© The Globe and Mail
Only GlobeinvestorGOLD combines the strength of powerful investing tools with the insight of The Globe and Mail.
Discover a wealth of investment information and and exclusive features.
