ADM tenders shares of Agricore to S.W.P.
May 25, 2007
by FoodBusinessNews.net Staff
DECATUR, ILLINOIS — Archer Daniels Midland Company announced on May 24 that it has tendered all of the limited voting common shares of United Grain Growers Ltd., doing business as Agricore United, that it beneficially owns or controls to the revised take-over bid made on May 17 by Saskatchewan Wheat Pool, Inc. for all of the outstanding common shares for C$20.50 in cash per common share.
ADM beneficially owns or controls 16,635,497 common shares, representing approximately 28% of the outstanding common shares.
ADM has tendered all of the common shares it beneficially owns or controls to the revised SWP offer and will vote for the continuance and the arrangement in accordance with ADM’s existing contractual arrangements with Agricore.