Shares in Bunge, the world’s largest oilseed processor, jumped as a lot as 5 per cent on Thursday after reviews of preliminary deal talks with Glencore-backed grain dealer Viterra.

A possible merger, which was first reported by Bloomberg, would create an agribusiness powerhouse rivalling Cargill and Archer Daniels Midland.

St Louis-based Bunge, which generated $1.6bn in internet revenue final yr, buys and sells grains world wide, in addition to proudly owning a community of processing and storage amenities.

Viterra, which was previously generally known as Glencore Agriculture, beforehand approached Bunge a couple of potential deal in 2017. Viterra reported internet revenue of $1bn final yr.

Glencore and Bunge declined to remark. Viterra didn’t reply to a request for remark.