May 23 (Reuters) - U.S. grains trader Bunge Ltd BG.N said it is not engaged in business combination discussions with commodities trader Glencore Plc GLEN.L or its unit Glencore Agriculture Limited. on Tuesday, Glencore said its agricultural unit had made an informal approach to Bunge about a "possible consensual business combination."
Shares of Bunge earlier soared on media reports that Glencore Agriculture Ltd, a joint venture owned by Glencore and two Canadian pension funds, had approached the company about a possible business combination.