Cargill and an ag investment firm have reached a deal to acquire the nation’s third largest chicken producer Sanderson Farms.
The all-cash deal is 4-and-a-half billion dollars for Cargill and Continental Grain to purchase Sanderson which would be merged with Wayne Farms poultry company owned by Continental. Reports say the amount is 30% above the stock price.
Sanderson Farms is based in Mississippi and supplies Walmart and Sysco among other companies.
