The Canadian government approved Bunge Ltd.'s purchase of Viterra Ltd, which is a grain-handling business with more more than 80 facilities across the country.

The conditions and terms attached to the federal approval of Bunge Ltd.’s US$8.2-billion acquisition of Viterra Ltd. are “woefully inadequate” to address the profound impact on the market, Grain Growers of Canada’s executive director says.

The Canadian government has approved Bunge Ltd.'s US$8.2-billion acquisition of Viterra Ltd. in a decision that includes terms and conditions meant to allay concerns about competition.

The Canadian government said on Tuesday it approved with conditions the $34 billion merger deal between Bunge and the Glencore-backed company Viterra. The conditions for the deal approval include Bunge's divestiture of six grain elevators in Western Canada and a binding commitment from Bunge to invest at least C$520 million in Canada within the next five years,