Bunge's merger with Viterra stalled by US-China trade tensions, Bloomberg reports
May 2 (Reuters) - Bunge Global's (BG.N), opens new tab $34 billion merger with Glencore-backed (GLEN.L), opens new tab Viterra is being stalled by trade tensions between the U.S. and China, Bloomberg News reported on Friday, citing people familiar with the matter.
"We are in the final stage of regulatory approval. We express our continued gratitude for the constructive dialogue with Chinese government officials throughout the regulatory review process," Bunge said in a statement.
The merger was first announced in 2023. If finalized, it will create a global crops trading and processing giant closer in scale to chief rivals Archer-Daniels-Midland (ADM.N), opens new tab and Cargill �t;CARG.UL�ࢀt;.
Regulatory approval in China is among the last remaining obstacles to closing the deal.
Bunge executives and advisers are growing increasingly concerned that the political rift between the two countries will hold up the process further, according to the report.
Bunge CEO Greg Heckman traveled to China a number of times for talks with the authorities, the Bloomberg report said.
Viterra did not immediately respond to a Reuters request for comment.
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