Bunge Ltd (NYSE: BG) is having an incredibly strong time in the market at the moment, and for good reason. The company has received a takeover bid. Of course, this is exciting investors, leading to gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (1:12), BG is trading at $74.48 per share after a gain of $4.41 per share (6.29%) thus far today.
BG Gains On Takeover Offer
As mentioned above, Bunge is having a strong day in the market today after it was announced that the company has received a takeover offer. According to various reports, the first of which appeared on the Wall Street Journal, Glencore has made a takeover offer.
However, there’s not much by way of details available just yet. No suggested price is being circulated, nor has anything been said as to whether or not the takeover bid will be accepted. Nonetheless, this is leading to quite a bit of excitement in the market, pushing the value of the stock upward.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BG. In particular, we’re interested in learning the details surrounding the takeover bid and whether or not the company will accept the offer. If a takeover does take place, we can expect incredible value to be returned to shareholders. We’ll continue to follow the story closely and bring the news to you as it breaks!
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