US-China Tensions Stall Bunge’s $8.2 Billion Viterra Deal as Regulatory Clock Ticks

Bunge’s high-profile $8.2 billion acquisition of Viterra has hit another roadblock, with escalating US-China tensions delaying the deal’s closure well past its original mid-2024 target. The agribusiness giant has now extended the deadline for related financial exchanges from May 5 to June 13, 2025, acknowledging the possibility of further extensions if the deal remains incomplete.

 

The transaction, which would create a $25 billion grain trading powerhouse, is awaiting final regulatory approvals-most notably from Chinese authorities. While Bunge has secured conditional approval from the European Union and is finalizing required asset sales in Canada, the Chinese review has become the critical bottleneck. The company continues to engage with Chinese regulators, but sources say the process has been slowed by broader geopolitical frictions between the US and China.

 

Despite these delays, Bunge CEO Greg Heckman remains optimistic, emphasizing that integration plans are ready and that the company does not expect any material issues affecting the deal’s economics. However, the repeated deadline extensions and the missed initial closing window highlight the challenges of completing cross-border mergers in today’s tense geopolitical climate.

 

The deal, announced in 2023, would see Glencore and Canadian pension funds become significant shareholders in the combined entity. As the global agricultural sector watches closely, Bunge has signaled it is prepared to extend the timeline further if necessary, underscoring the uncertainty that still surrounds the final regulatory hurdles.

 

Source: Bloomberg