Marubeni Corp. (8002), Japan’s biggest agricultural trading company, rose for the first time in five days in Tokyo after the Nikkei newspaper reported it had won agreement to buy U.S. grain trader Gavilon Group LLC.

The Japanese company agreed to buy the third-biggest grain merchandiser in the U.S. for about 300 billion yen ($3.8 billion), the Nikkei reported today. The two groups had been in exclusive talks for a sale at about $5 billion including debt, a person familiar with the situation said May 8.

“As Marubeni boosts commodity trading, this is a rare opportunity for it,” said Barclays Plc analyst Kazuhisa Mori. “Marubeni is heading in the right direction, while it remains to be seen what the financial scheme will be.”

A Marubeni spokeswoman said she couldn’t comment on the report, declining to be named due to company policy.

Marubeni gained 2.8 percent to 518 yen at 2:32 p.m. in Tokyo, taking its gain for the year to 10.2 percent.

Buying closely-held Gavilon will allow Tokyo-based Marubeni to expand in the world’s largest producer and exporter of corn. Companies including Glencore International Plc (GLEN) and Bunge Ltd. (BG) had also shown interest in Omaha, Nebraska-based Gavilon, according to people familiar with the matter.

Gavilon -- whose largest investor is Ospraie Management LLC, the commodities hedge-fund firm founded by Dwight Anderson -- owns storage bins, rail cars, trucks and containers used to ship commodities globally, according to its website. It also runs energy-trading and fertilizer-distribution businesses.

The group hired Morgan Stanley to explore strategic alternatives, a person familiar with the matter said Jan. 20.
 

Bloomberg