Bunge Limited · NYSE:BG
Bunge — Corn Products International — Merger or Acquisition (June 2008)
14 slides from Bunge's merger presentation, Jun 23, 2008
Slide 1: Bunge and Corn Products to Combine
Bunge and Corn Products to Combine June 23, 2008 Creating a strategically balanced and diverse agribusiness and food products leader 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
Slide 2: Forward Looking Statements
2 Forward Looking Statements This presentation 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
Slide 3: Bunge 2008 Guidance Update
3 Bunge 2008 Guidance Update Increasing 2008 full year net income guidance from $7.10 to $7.40 per share to $9.35 to $9.65 per share* Market fundamentals remain solid • Customer demand has remained firm despite high price commodity environment • Oilseed processing margins generally strong worldwide
Slide 4: Overview of Transaction
4 Overview of Transaction See slide 13 for transaction details • Structure: Stock-for-stock merger, tax free to Corn Products stockholders • Terms: Each share of Corn Products stock to be exchanged for a fraction of a Bunge share equal to $56.00 in value, subject to adjustment For example, based on
Slide 5: Compelling Strategic Rationale
5 Compelling Strategic Rationale Broadens product portfolio and deepens customer relationships • Adds Corn Products’ value-added sweeteners/starches to Bunge’s portfolio of agribusiness, fertilizer, edible oil and milling products • Broader product portfolio and integrated distribution creates stron
Slide 6: Corn Products – Leader in Corn-Based Products
6 Corn Products – Leader in Corn-Based Products Solid fundamentals with strong earnings growth, balance sheet and cash flow generation • 2003-2008e EPS CAGR expected to be between 22% and 24% • Solid balance sheet • Strong cash flow generation A leading global corn refiner and supplier of higher-val
Slide 7: Complementary Global Operations
7 Complementary Global Operations Corn Products & Bunge Bunge Corn Products Approximately 32,000 employees in 40 countries Corporate Headquarters
Slide 8: Highly Complementary Value Chain
8 Highly Complementary Value Chain • Improved supply chain and risk management • New food ingredients • Fermentation & enzyme technologies • Combined product innovation • Enhanced sales & distribution Origination Logistics Risk Management Corn (Dry Milling) Corn (Wet Milling) Oilseeds & Grains Sugar
Slide 9: Enhanced Product Portfolio
9 Enhanced Product Portfolio Margin Ag Products Staple Products Higher Value-Added & Specialty Ingredients Raw grains Corn gluten feed Soybean meal Corn gluten meal Crude vegetable oils Sugar Glucose HFCS Glucose syrups Specialty vegetable oils High maltose syrup Liquid dextrose Regular starch Syrup
Slide 10: Greater Opportunities to Serve Larger Customer Base
10 Greater Opportunities to Serve Larger Customer Base Farmers Livestock Producers Food Service Retail/Grocery Distribution, Sales, Innovation Animal Feed Bakery Brewing Food Processors Beverage Industry Paper Dairy Industrial & Chemical Pharma/Personal Care
Slide 11: Economically Attractive
11 Economically Attractive Shareholders of both companies will have the opportunity to participate in a larger scale, first-tier agribusiness and food company Anticipated annual cost synergies and incremental profit opportunities in the range of $100 to $120 million • Cost savings expected in areas
Slide 12: Bunge's Strong Track Record of Successful Integration
12 Bunge’s Strong Track Record of Successful Integration Corn Products is latest and largest acquisition Walter Rau Ceval Manah La Plata Cereal Kama Foods & Poland mergers (Ewico, ZPT Olvit, Olvit-Pro) 1997-1999 2000-2003 2003-2007 2008 IAP Ouro Verde Established leading position in Brazil oilseed p
Slide 13: Overview of Transaction - Detail
13 Overview of Transaction - Detail • Structure: Stock-for-stock merger in which a newly formed subsidiary of Bunge will merge into Corn Products so that Corn Products becomes a wholly owned subsidiary of Bunge • Terms: Each share of common stock of Corn Products will be converted into the right to
Slide 14: Additional Information
14 Additional Information This material is not a substitute for the joint proxy statement/prospectus and any other documents Bunge Limited and Corn Products International, Inc. intend to file with the SEC in connection with the proposed merger. Investors and securityholders are urged to carefully re
Corn Products International — Merger or Acquisition (June 2008) on 6ix