Agriculture Consolidation: Bunge (BG) to buy Corn Products (CPO) - Trader Mark

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Agriculture Consolidation: Bunge (BG) to buy Corn Products (CPO)
Jun 23, 2008 01:38 PM UTC

Trader Mark

Return	Risk
-7.66%	MID

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Symbol	Sentiment	Start	Return	Closed
BG		06/23/08	-46.76%	--
CPO	n/a

Via Fund my Mutual Fund:

These names are not really my focus in the sector, but Bunge (BG) has a fertilizer component to it, and while I don't really care too much about the acquisition I like the increased guidance. A trend I expect to see across the fertilizer space as we move ahead.

Fertilizer producer and oilseed processor Bunge Ltd (NYSE:BG - News) said on Monday that it would buy Corn Products International Inc (NYSE:CPO - News) for $4.4 billion to gain a leading position in finished corn products such as starches and sweeteners.
Separately, Bunge raised its 2008 earnings forecast to $9.35 to $9.65 per share from $7.10 to $7.40, not counting the effects of the acquisition, which the company expects to close in the fourth quarter.
Analysts were expecting Bunge to earn $7.59 a share in 2008, according to Reuters Estimates.

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