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.