Agricore shareholders approve buyout

by Eric Schroeder
Share This:

WINNIPEG, MAN. — Agricore United, Canada’s largest grain handler, said 99.99% of its shareholders approved the takeover of all the company’s shares on June 13 by the Saskatchewan Wheat Pool.

As part of the transaction, the S.W.P. will acquire all of Agricore’s limited voting shares for C$20.50 in cash and its series A convertible preferred shares for C$24.00 in cash plus accrued and unpaid dividends.

A hearing on the final approval of the arrangement is scheduled to be heard by the Manitoba Court of Queen’s Bench on June 15.

In addition, Agricore announced chief executive Brian Hayward had retired, leaving S.W.P. c.e.o. Mayo Schmidt in charge of the grain handler.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.