LAUREL, MISSISSIPPI, US – In a recent 8-K filing with the Securities and Exchange Commission (SEC), Sanderson Farms acknowledged that the company’s proposed joint venture would not be completed during the first half of 2022.
The agreement between Continental Grain Co., and Cargill to acquire Sanderson Farms for $4.5 billion was first announced in August 2021. The plan is to merge Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain.
Sanderson received approval of the joint venture from its shareholders in October 2021 at $203 per share.
However, the company said it expects the deal to be completed on the terms of the original merger agreement.
In December 2021, the US Department of Justice asked for additional information on the deal which is part of the reason for why it has not been approved.