Glencore Agrees to Extension of Review of Viterra Deal
06/15/2012| 05:44pm US/Eastern
By Nathalie Tadena
Glencore International PLC (>> Glencore International Plc) said it has agreed to an extension of Canada's review of the company's proposed nearly 6-billion-Canadian-dollar acquisition of grain handler Viterra Inc. (VTRAF, VT.T) by an additional 30 days.
The review period was initially scheduled to end on June 28. The deal is expected to close by the end of July.
In May, Glencore was cleared by Canadian competition authorities to proceed with its proposed takeover of Viterra. Last week, Australia's competition regulator approved the deal.
Glencore has lined up Canadian partners Richardson International and Agrium Inc. (AGU, AGU.T) to join in the takeover, each of which are expected to buy some of Viterra's assets from Glencore.
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