Glencore International and Viterra have reached a deal.

Glencore will acquire all of the outstanding shares of the western Canadian agribusiness for $16.25 per share.

"As a public company we must grow and continue to evolve," says Viterra's President and CEO Mayo Schmidt. "We are announcing that Glencore has made an offer to acquire Viterra, one which our board of directors has approved. Glencore has entered into agreements with two other Canadian companies, Agrium and Richardsons, who will assume some of our businesses as well."

Richardson International will acquire 19 country elevators and the crop input centres co-located with those elevators including facilities in Assiniboia, Davidson, Kindersley, Unity, White City, Alameda and Maple Creek. Agrium will acquire the majority of Viterra's retail agri-products business including its 34 per cent interest in Canadian Fertilizer Limited for which Agrium will pay $1.8 billion in cash.

The deal still must pass regulatory approval.