Cargill, Continental Grain To Acquire Sanderson Farms For $4.5B

  • Sanderson Farms Inc SAFM agreed to be acquired by a joint venture involving Cargill, a Minnesota-based food company, and Continental Grain Company for $4.53 billion.
  • Sanderson Farms shareholders will receive $203 per share, representing a 30.3% premium to Sanderson Farms' share price of $155.74 on June 18, 2021, the last full trading day before media speculation about the potential sale of the company.
  • Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new, privately held poultry business.
  • The transaction is expected to close by the end of 2021 or early 2022.
  • Wayne Farms CEO Clint Rivers will lead the combined company.
  • After completing the deal, Sanderson Farms will become a private company and no longer trade on NASDAQ.
  • Share Price: SAFM shares traded higher by 7.21% at $195.54 on the last check Monday.
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