Corn Products International Inc-Filing of certain prospectuses and communications for business combination transactions (425)
September 30 2008 - 5:05PM
Edgar (US Regulatory)
Filed by Bunge
Limited
Pursuant to
Rule 425 under the Securities Act of 1933
and deemed filed
pursuant to Rule 14a-12
under the
Securities Exchange Act of 1934
Subject Company:
Corn Products International, Inc.
Commission File
Number for Registration Statement
on Form S-4:
333-152781
|
|
|
|
|
|
|
|
|
Alberto
Weisser
Chairman and Chief Executive Officer
|
|
Sam Scott
Chairman, President and Chief Executive Officer
|
September 30, 2008
Dear Bunge and Corn Products Colleagues,
We are pleased to report that planning for the
combination of our two companies is proceeding smoothly. On Tuesday and Wednesday of last week we held
the second meeting of the integration Steering Committee, which is comprised of
Alberto Weisser and Sam Scott, CFOs Jackie Fouse and Cheryl Beebe, and HR heads
Jim Hirchak and Vicente Teixeira. At the
meeting, integration sponsors and leaders from around the world presented their
teams initial findings and ideas.
Over 50 teams are currently analyzing the best way to
integrate our operations on global and regional levels. They are divided into five primary
groupsNorth America; South America; Asia and other regions; Global Growth; and
General & Administrativeand are working on topics such as
distribution, IT, marketing, procurement, legal, R&D, HR and finance. The size and specific activities of the teams
vary depending upon their location and focus, but each has the same underlying
goal: identifying the approaches and
ideas that will produce efficiencies and accelerate the growth of our combined
businesses.
Our confidence in the strategic value of combining
Bunge and Corn Products has only grown stronger as we have proceeded with
integration planning and have had the opportunity to hear the talented teams in
our organizations discuss the growth potential in their regions, the ideas they
have for product innovation and improved customer offerings, as well as the
opportunities that will be available for employees.
Our goal is to conduct the integration carefully,
correctly and candidly. This weeks
meeting provided the Steering Committee with a chance to review progress,
discuss ideas and offer input. No final
decisions were made. Additional
Committee meetings are scheduled for October and November. We expect to have a clearer sense of the
timetable for major decisions after these sessions. We will keep you posted.
So where does the process stand today, and what can
you expect in the coming months?
First, we expect to hold our shareholder meetings in
mid to late November, and close the merger shortly thereafter.
On the day of the closing, Corn Products will become
part of Bunge. Corn Products
stockholders will become Bunge shareholders, and Corn Products financial
results will be consolidated into Bunges.
Alberto Weisser will be the combined companys chairman and CEO, and Sam
Scott will join Bunges Board of Directors.
At the same time, key functionslegal, finance, HR and some commercial
teams, for examplewill work together closely to ensure that essential
activities like financial reporting, payroll and customer contacts are handled
smoothly.
Beyond these changes, we do not expect many
significant, near-term changes to our day-to-day operations. Most of the integration plans in development
will be implemented in the first half of 2009.
This process requires the focus of many people and
will take a considerable amount of effort to complete. We thank everyone who is involved on a
day-to-day basis and all others who are contributing their time and thoughts. The integration of our two companies is
important work, but as we move ahead, lets continue to keep our customers and
businesses foremost in our minds.
Included with this letter is an FAQ document. We hope it addresses some of the questions
that you may have. If you have other
questions, please send a note to askBunge@Bunge.com.
Best regards,
Alberto Weisser, Sam Scott
Cautionary
Statement Concerning Forward-Looking Statements
This
material contains forward-looking statements, including, among other
statements, statements regarding the proposed merger between Bunge Limited and
Corn Products International, Inc. and the anticipated consequences and
benefits of such transaction. Statements
made in the future tense, and words such as anticipate, expect, project, continue,
believe, plan, estimate, intend, will, may and similar expressions
are intended to identify forward-looking statements. These statements are based on current
expectations, but are subject to certain risks and uncertainties, many of which
are difficult to predict and are beyond the control of Bunge and Corn Products.
Relevant
risks and uncertainties include those referenced in Bunges and Corn Products
filings with the Securities and Exchange Commission (the SEC) which can be obtained
as described in Additional Information below.
Risks and uncertainties relating to the proposed merger include: required regulatory approvals may not be
obtained in a timely manner, if at all; the proposed merger may not be
consummated; the anticipated benefits of the proposed merger, including
synergies, may not be realized; and the integration of Corn Products
operations with those of Bunge may be materially delayed or may be more costly
or difficult than expected. These risks
and uncertainties could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements, and therefore should
be carefully considered. Bunge assumes
no obligation to update any forward-looking statements as a result of new
information or future events or developments.
Additional
Information
This
material is not a substitute for the preliminary joint proxy
statement/prospectus or any other documents that Bunge and Corn Products have
filed or will file with the SEC in connection with the proposed merger. Investors and securityholders are urged to
carefully read the preliminary joint proxy statement/prospectus and any other
relevant documents filed or to be filed by Bunge or Corn Products, including
the definitive joint proxy statement/prospectus when it becomes available,
because they contain or will contain important information. The preliminary joint proxy
statement/prospectus is, and other documents filed or to be filed by Bunge and
Corn Products with the SEC are or will be, available free of charge at the SECs
web site (www.sec.gov), by accessing Bunges website at www.bunge.com under the
tab About Bunge and then under the heading Investor Information and from
Bunge by directing a request to Bunge Limited, 50 Main Street, White Plains,
New York 10606, Attention: Investor Relations, and from Corn Products by
directing a request to Corn Products International, Inc., 5 Westbrook
Corporate Center, Westchester, Illinois 60154, Attention: Investor Relations.
Bunge,
Corn Products and their respective directors, executive officers and other
employees may be deemed to be participants in a solicitation of proxies from
the securityholders of Bunge or Corn Products in connection with the proposed
merger. Information about Bunges
directors and executive officers is available in Bunges proxy statement, dated
April 16, 2008, for its 2008 annual meeting of shareholders and in Bunges
most recent filing on Form 10-K.
Information about Corn Products directors and executive officers is
available in Corn Products proxy statement, dated April 4, 2008, for its
2008 annual meeting of stockholders and in Corn Products most recent filing on
Form 10-K. Additional information
about the interests of potential participants is included in the preliminary
joint proxy statement/prospectus referred to above.
Corn Products (NYSE:CPO)
Historical Stock Chart
From Jul 2024 to Aug 2024
Corn Products (NYSE:CPO)
Historical Stock Chart
From Aug 2023 to Aug 2024