Interesting update regarding Model Portfolio name Bunge Global (BG) regarding its pending, transformative acquisition of Viterra from Glencore and two Canadian pension funds -

The news this morning is that Canadian regulators have approved the transaction, which is another encouraging step towards completion of this unique special situation.

Despite evidence that the event-catalyst is starting to play out, BG continues to trade at what seems like a deep and anomalous discount to peers (notably ADM, even after ADM's recent accounting issues) and its indicative private market value - the current share price of ~$82/share implies a valuation of ~6.5x LTM EBITDA / ~5x midcycle EBITDA vs. ~8x for ADM & Wilmar and ~10x for private market comps.

2025 could prove to be a year of significant value creation for BG shareholders.