Bunge has been very much in the M&A spotlight, with the chances now being that the group is in the home stretch as far as its takeover story. Of course the market has been fully aware of would be suitors Glencore and Archie Daniels. However, it is possible that there is another player ready to join the M&A party in the form of Mitsui. This means that advisors to Bunge are now preparing for a three way fight.
At the same time Glencore is said to be revving up for a knockout blow in this particular melee. The implication here is that in order to secure victory Glencore has to bid as much as $96. The risk is anything below such a number could mean that Archie Daniels or now Mitsui trump a deal in which one which Glencore has been the implied frontrunner.
At the very least we are looking at a situation which should be a win-win for shareholders.