March 9, 2012 / 6:49 PM / 6 years ago

Viterra receives interest from third parties

(Reuters) - Viterra Inc VT.TO, Canada’s biggest grain handler that has been weighed down by increased costs and fierce competition, said it received expressions of interest from third-parties.

The announcement was made in view of “market activity” in its shares, the Calgary-based company said in a statement on Friday.

The stock, which has climbed about 10 percent in the last two weeks, was trading 23 percent higher at C$13.52 in afternoon trade on the Toronto Stock Exchange.

A company spokesman declined to give any details beyond the statement.

Last month, Viterra said it would sell all of its North American feed assets — including six feed mills in Canada and the United States.

The company, which operates across Canada, the United States, Australia, New Zealand and China, said on Thursday it will look to invest in its own business while keeping an eye out for acquisitions in Canada.

Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila

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