Commodities giant reportedly eyes Canadian company for potential acquisition The largest publicly traded commodities supplier in the world is reportedly in talks to purchase Canada's biggest grain handler.

Glencore International is seeking to buy Biterra Inc. as it works to bolster its core business unit, Bloomberg reports. Though executives from both companies did not confirm they are in negotiations, a person familiar with the talks told the news provider that they are continuing to explore a possible acquisition.

Mergers and acquisitions among major players in the commodity sector have become increasingly common over the past decade, particularly as commodity prices have experienced huge swings in pricing. Viterra, which has an estimated market value of roughly $5.4 billion, is also a potential takeover target of other companies, the insider told Bloomberg, as firms look to overhaul their strategic sourcing and improve supply chain management.

Glencore is reportedly looking to augment its grain business in North America, and buying Viterra would give it access to an established player on the continent, experts say. Glencore chief executive Ivan Glasenberg is also spearheading the company's pursuit of Switzerland-based Xstrata, which the firm is hoping to buy for an estimated $35 billion.

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