May 23 (Reuters) - Shares of Bunge Ltd surged about 16 percent on Tuesday after a media report suggested the U.S. agribusiness a takeover target of commodities trader Glencore PLC.
It is unclear where any discussions between the companies stand and there may not be any deal, sources familiar with the matter told The Wall Street Journal. (on.wsj.com/2q7SZTI)
Shares of Bunge, which had a market capitalization of $9.84 billion as of Monday’s close, jumped 16 percent to $81.24.
The deal would make the Swiss mining and trading giant, Glencore, a major player in the U.S. agriculture market, the report said.
Bunge did not immediately return calls requesting comment. (Reporting by Karl Plume in Chicago and Sruthi Shankar in Bangalore; Editing by Marguerita Choy)