Glencore in £3.5bn bid for Canadian grain giant Viterra Chris Mahoney, head of Glencore's agriculture arm, is one of the company's richest senior staff members, with a 2.08pc shareholding worth £588m based on Friday night's closing price of 408.7p. Shares in Viterra rose 24pc following Friday's announcement, giving a market capitalisation of CAN$5bn (£3.2bn). Glencore's approach comes at an opportune time, as the Canadian government passed a law last year ending the Canadian Wheat Board's market monopoly. Viterra currently controls 45pc of Canada's grain handling market. In addition, in November 2011, Viterra's biggest shareholder, Alberta Investment Management rejected its proposed board of directors, calling them "unresponsive." A Glencore spokesman declined to comment.