Bunge declines comment on 'market rumor' after reports of ADM takeover bid

Numerous financial and agricultural news outlets are reporting a takeover bid has now been made for Bunge Limited.
The Wall Street Journal first reported agriculture giant Archer Daniels Midland has made what it calls a "takeover approach." Details of the bid have not been made clear.
Bunge and ADM have given short email statements to KVOE News. Both essentially say the same thing: the companies don't respond to rumors or speculation.
Observers say a deal between ADM and Bunge would represent a shift in strategy for ADM, which is a competitor with Bunge when it comes to crop sales and processing. ADM has also shifted its investment targets towards value-added products like food ingredients.
Bunge was approached by Swiss rival Glencore last year, ultimately rebuffing that bid. The two companies currently have a "standstill" agreement preventing Glencore from attempting a hostile takeover.
Bunge is currently in the midst of a $250 million restucturing process worldwide that has led to a reduction in the number of global divisions. Locally, that has also meant qualifying employees at the Emporia crush facility have been offered early retirement packages on a voluntary basis, as confirmed by KVOE News earlier this month.
Bunge closed up 11.4 percent after word of the takeover became known. Bunge has a market value of nearly $9.8 billion and operates in more than 40 countries. ADM's market value is over $22.6 billion. The company operates in over 160 countries worldwide.