Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, March 23, 2012

Article Excerpt

VITERRA INC., $15.91, symbol VT on Toronto, has agreed to a friendly takeover offer from Switzerland-based commodity trader Glencore International plc. The purchase price is $6.1 billion, or $16.25 per Viterra share. As part of the deal, Glencore will sell a number of Viterra’s assets, including about 90% of its Canadian fertilizer retail stores and all of its Australian outlets, along with Viterra’s 34% stake in a fertilizer plant in Medicine Hat, Alberta. Agrium (symbol AGU on Toronto) has agreed to buy all of these assets. Agrium is a recommendation of our Successful Investor newsletter. In addition, Glencore is selling Viterra’s North American food processing unit and its Canadian grain-handling facilities and terminals to privately held Richardson International for $800 million. Holders of 16.5% of Viterra shares, including the company’s management and its biggest shareholder, Alberta Investment Management Corp., have agreed to the takeover. Glencore will get a break fee of $185 million if Viterra agrees to a higher bid. If regulators block the…