Takeover talks between Archer Daniels Midland and Bunge have stalled, jeopardizing a deal that would have created one of the world’s largest agricultural companies.
Talks had slowed recently as the companies considered how to navigate antitrust challenges, The Wall Street Journal reports.
It’s not known whether discussions between the companies will resume.
Bunge saw its profits plummet in 2017, to $160 million from $745 million the year before, as a global commodities glut drove prices down. The company had resisted previous takeover attempts but now may be forced to seek another buyer.
In early February, Bunge was said to be in “advanced” talks to be acquired by Archer Daniels Midland, one of its largest competitors. Bunge is based in New York but has the headquarters of its North American division in Chesterfield.
Read more: St. Louis Business Journal