Hedge fund boosts stake in Bunge, pushes for changes

Hedge fund D.E. Shaw & Co. has increased its stake in grain trader Bunge Ltd. and is pushing the company to make operational improvements and add board seats, the Wall Street Journal reports, citing people familiar with the matter.

The hedge fund has been working alongside agricultural investment firm Continental Grain Co. Together, the two firms own less than 5 percent of Bunge, which has its North American headquarters in Chesterfield.

The firms are not looking for Bunge to sell, according to the Journal. That marks a departure from Continental’s stance earlier this year, when the firm was said to be seeking a sale by Bunge.

Talks about a tie-up between Bunge and Archer Daniels Midland, which would have created one of the world’s largest agricultural companies, ultimately broke down in March.


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