Cargill has made a binding offer to acquire animal nutrition company Provimi for €1.5 billion (US$2.17 billion), and Provimi has agreed to begin the necessary approvals process.
The acquisition, according to Cargill, would expand the company's existing operations and make it a global leader in animal nutrition. "This acquisition would mark a significant step in Cargill's animal nutrition growth strategy and underlines our commitment to continued long-term investment to meet the needs of our customers around the world," said Paul Conway, Cargill's vice chairman.
Cargill was among several companies in June that expressed interest in taking over Provimi.
