Minister of Transport Pablo Rodriguez says they have called for the review in order to ensure that we have fair competition at Canada's ports.

The transaction will be reviewed under the mergers and acquisitions provisions of the Canada Transportation Act.

Rodriguez says a public interest assessment will also be held which will include consultations with Canada's ports and marine industry, stakeholders, other government departments, other orders of government, and Canadians.

Transport Canada has up to 250 days, or until June 2, 2024, to complete the public interest assessment.

In June, U.S.-based Bunge announced they had signed a deal to merge with Viterra in a stock and cash transaction.

The deal will create a global agribusiness company estimated to be worth over U.S $30 billion including debt.

The press release noted that under the terms of the agreement, which was unanimously approved by the Boards of Directors of Bunge and Viterra, Viterra shareholders would receive approximately 65.6 million shares of Bunge stock, with an aggregate value of approximately U.S .$6.2 billion, and approximately U.S. $2 billion in cash.

As part of the transaction, Bunge will assume $9.8 billion of Viterra debt, in addition, Bunge plans to repurchase $2 billion of Bunge’s stock as soon as practically possible and no later than 18 months after transactions close.