Viterra has confirmed that it is in talks regarding a possible 'strategic transaction' with Australian grain handler ABB Grain Ltd.
The company is reported to have offered up to A$1.64B for ABB Grain.
The discussions are ongoing and both parties are engaged in continuing negotiations and due diligence activities, Viterra said in a statement.
The offer comes after ABB ended merger talks in December with AWB Ltd. It follows deregulation of Australia's grain market last year which saw AWB lose its monopoly over wheat exports.
Viterra is Canada's leading agribusiness, with extensive operations and distribution capabilities across Western Canada, and with operations in the USA, Japan, Singapore and Geneva.
ABB is a leading owner of grain storage and handling and grain export terminals in South Australia state and is Australia's largest producer and exporter of malt barley.
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