Viterra confirms exclusive takeover talks

20/03/2012 11:25:00

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Viterra (ASX:VTA, TSE:VT) says it is in exclusive discussions with a third party regarding the possible acquisition of the dual-listed grain handler.

The news comes one week after Viterra revealed it had received an unsolicited expression of interest.

Media reports have speculated Glencore is the likely suitor and a bid could be worth as much as $5.2 billion.

Viterra says is has now begun exclusive talks but cannot assure a deal will be done.

Viterra posted a net profit of $252 million in the 2011 financial year.