Glencore Plc, the miner and commodities trader led by billionaire Ivan Glasenberg, has made a takeover approach for U.S. grain trader Bunge Ltd., according to a person with knowledge of the situation, asking not to be named discussing a private matter.

Bunge, based in White Plains, New York, has a market value of about $11.3 billion. The shares jumped as much as 17 percent today after the Wall Street Journal reported Glencore’s approach.

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