06:35 AM EDT, 07/15/2024 (MT Newswires) -- (Updates in the first, second and last paragraphs)

Bunge (BG) and Viterra have offered to divest assets in two European countries to win EU antitrust approval for their $34 billion merger, Reuters reported Friday, citing people with direct knowledge of the matter.

The companies submitted their concessions to the European Commission on Thursday, Reuters said citing an update on their website which did not provide details. However, the watchdog extended its decision deadline to Aug. 1 from July 18.

The watchdog is now expected to seek feedback from rivals and customers before deciding to accept the concessions or demand more. Reuters said it can also open a four-month investigation if it has grave concerns.

According to the report, the deal also requires regulatory clearance in North America, South America, and China.

Bunge and Viterra did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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