Bunge Ltd. shares roared higher just before the close Friday, after a report that Archer Daniels Midland Co. was attempting a takeover. Bunge, which trades and processes agricultural commodities, had reportedly been approached previously by Glencore PLC about a merger, which portends a potential bidding war, according to The Wall Street Journal report. Bunge had been trading close to flat for the day before the report hit just minutes before markets closed for the weekend, and then spiked to a daily gain of 11.4% at $77.56. Archer Daniels stock gained 1.2%, almost all at the very end of the session, and both stocks gained slightly in after-hours trading as well.
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