THURSDAY, MARCH 15, 2012
VOL. 90 | NO. 11 | $3.75
KOCHIA THREAT |
SERVING WESTERN CANADIAN FARM FAMILIES SINCE 1923
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CHECK FIELDS SOON, OFTEN
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VITERRA | CORPORATE TAKEOVER?
CWB | NEW CONTRACTS
Rumours swirl on Viterra sale Viterra mum | Share prices climb on rumours of Glencore
CWB unveils new producer contracts ‘It’s really like starting a new business,’ says VP BY BARB GLEN
BY KAREN BRIERE
LETHBRIDGE BUREAU
REGINA BUREAU
Canadian Wheat Board officials have unveiled details farmers and t h e g r a i n i n d u s t r y h av e b e e n clamouring for. Six contracts will be available from the CWB by the end of this month. At the first of 21 producer meetings scheduled across Western Canada, CWB officials outlined details of two pool contracts, three cash contracts and a malting barley contract all available for sign-up by the end of March. The harvest pool, with a sign-up deadline of October 2012, and the early delivery pool, with a September 2012 deadline, are available for 12 grades of Canada Western Red Spring, five grades of Canada Western Amber Durum, one grade of Canada Prairie Spring Red, two grades of Canada Western Red Winter and two-row malting barley.
Viter ra In c. rema i n e d c l o se mouthed March 12 as its share prices soared and rumours swirled about a possible takeover by Swiss giant Glencore. Glencore International Plc is the world’s largest publicly traded commodities supplier. Its name emerged most often as media outlets and others speculated on who had made the play for Canada’s largest grain handler. Trading of Viterra stock in Toronto was briefly halted March 9 while the company issued a statement. “In view of market activity in Viterra’s shares, the company acknowledges it has received expressions of interest from third parties,” the statement said. “There can be no assurance that any agreement or transaction will result.” More than 15 million shares traded March 9, up significantly from the usual average of 789,000. Shares closed at $13.58, up from $10.98 the previous day. The price continued to climb March 12 and closed at $14.45. The volume was an extraordinary 25.8 million shares. Speculation grew over the weekend as a British newspaper reported that Glencore had offered an unsolicited bid of $5.5 billion. Others suggested Cargill, Archer Daniels Midland, Bunge, Agrium and others could be involved. None of the companies have commented. Glencore held talks with Louis Dreyfus last year, but they didn’t result in a deal. “Glencore clearly want to fill that hole in their portfolio,” said an unnamed source in a story from Reuters News Agency.
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SEE NEW PRODUCER CONTRACTS, P 3
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Facility assistant Brian Cross walks on top of grain cars ready to be loaded at the Viterra elevator in Killam, Alta., on March 5. SEE VITERRA’S FIRST QUARTER RESULTS ON PAGE 110. | MARY MACARTHUR PHOTO
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SEE RUMOURS SWIRL, PAGE 2
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