Alico, Inc. ("Alico")
ALCO, an American agribusiness and land management company, today
announced that the Special Committee of its Board of Directors has engaged
Deutsche Bank Securities Inc. to act as its financial advisor and Greenberg
Traurig, P.A. to act as its legal counsel to assist and advise the Special
Committee with respect to pursuing potential strategic and financial
transaction alternatives, including merger, business combination and sale
transactions involving Alico.
As previously announced, Alico formed the Special Committee, composed entirely
of independent directors not affiliated with Alico's majority shareholder,
Atlantic Blue Group, Inc. ("Atlanticblue"), following Atlanticblue's
announcement of its intention, in light of recent changes in the U.S. federal
tax code, to pursue the sale of its entire equity position in Alico to a
strategic or financial buyer.
The Special Committee intends to work with its independent financial and legal
advisors to identify and evaluate all available strategic and financial
alternatives to maximize shareholder value and that are in the best interests
of Alico and its shareholders. Atlanticblue has informed Alico that it intends
to work cooperatively with the Special Committee with respect to this process.
There can be no assurance that any such transactions will be available or be
approved or recommended by the Special Committee, or that any agreement
providing for any such transaction will be entered into or consummated.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in