London-listed mining giant Glencore has made a takeover approach to grains trader Bunge

 
Shruti Tripathi Chopra
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Bunge is one of the world's largest agriculture giants (Source: Getty)

London-listed mining giant Glencore has approached US grains goliath Bunge for a takeover deal in a bid to boost its agriculture business, it emerged today.

The New York-listed company’s shares closed up 16.6 per cent at $81.70 after news of a possible acquisition broke.

Glencore offloaded a 49 per cent stake in its agriculture business last year to two Canadian pension funds for more than $3bn.

Read more: Aberdeen Asset Management boss Martin Gilbert joins Glencore board

The commodities giant's interest in Bunge is seen as a move to boost its presence in the US agriculture market.

Earlier this month, Bunge CEO Soren Schroder told analysts the grain trader is open to large-scale tie-ups in the sector.

Glencore and Bunge could not be reached for comment.​

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