Deals
Glencore Hunts Among U.S. Grain Traders for Next Takeover
- Small grain traders unlikely to appeal to Glencore, people say
- Glencore’s head of agricuture says time is right for deals
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After striking deals in Russian oil and Congolese copper mining, Glencore Plc has set its sights on the U.S. grain-trading industry.
The company sold half of its agriculture division to two Canadian pension funds for $3.1 billion last year to fund an aggressive debt-reduction plan. Now, with cash levels rebounding and support from new partners for acquisitions, the Swiss trader is planning to enter the U.S. market.