Corn Products International Board of Directors Withdraws Recommendation in Favor of Merger Agreement with Bunge & Recommends ...
November 10 2008 - 9:09AM
Business Wire
Corn Products International, Inc. (NYSE: CPO) today announced that
its Board of Directors has withdrawn its recommendation in favor of
adoption of the previously announced merger agreement with Bunge
Limited (NYSE: BG), and has recommended against adoption of the
merger agreement. Pursuant to the merger agreement, which will
remain in effect until terminated in accordance with its terms,
Bunge has the right to require that Corn Products hold a meeting of
its stockholders to vote on the adoption of the merger agreement or
to terminate the merger agreement and seek reimbursement from Corn
Products for up to $10 million of Bunge�s expenses in connection
with the merger. Additional Information This news release is not a
substitute for the preliminary joint proxy statement/prospectus or
any other documents that Corn Products and Bunge 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 Corn Products or Bunge, 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 Corn Products and Bunge
with the SEC are or will be, available free of charge at the SEC�s
web site (www.sec.gov), from Corn Products by directing a request
to Corn Products International, Inc., 5 Westbrook Corporate Center,
Westchester, Illinois 60154, Attention: Investor Relations, by
accessing Bunge�s 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. Corn
Products, Bunge and their respective directors, executive officers
and other employees may be deemed to be participants in a
solicitation of proxies from the securityholders of Corn Products
or Bunge in connection with the proposed merger. 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. Information about Bunge�s directors and
executive officers is available in Bunge�s proxy statement, dated
April 16, 2008, for its 2008 annual meeting of shareholders and in
Bunge�s 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.
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