Sanderson Farms rises after $4.53 bln buyout offer

Pursuit Minerals

09/08/2021 12:43

** Chicken producer's shares  SAFM.O  up 7% at $195 in light
premarket trading after co agrees to $4.53 bln buyout deal
    ** Cargill and Continental Grain offer $203/Sanderson share
- premium of 11% to Friday's close
    ** Deal will combine SAFM with Continental's Wayne Farms and
help it better compete with larger rivals Tyson Foods  TSN.N 
and Pilgrim's Pride Corp  PPC.O   urn:newsml:reuters.com:*:nL4N2PG1ZQ
    ** Last year, Sanderson Farms rejected an unsolicited
proposal from Durational Capital Management for $142/shr, as it
undervalued the co  urn:newsml:reuters.com:*:nL3N2O347V
    ** SAFM up 38% YTD vs a 18% rise in S&P 500 index  .SPX 

 (Reporting by Sweta Singh)