M&A

Cargill, Continental Grain Add Sanderson Farms

Published: August 24th, 2021

The $4.5 billion deal, which involved Wachtell, Freshfields and Paul Weiss, comes after The Deal reported in June that Sanderson had attracted potential interest from Continental.

Sanderson Farms Inc. (SAFM) agreed to sell to Cargill Inc. and Continental Grain Co. for $4.5 billion in cash in a deal announced Aug. 9.

Wayzata, Minn.-based Cargill and New York-based Continental Grain will combine Sanderson Farms with Oakwood, Ga.-based Wayne Farms LLC, a Continental subsidiary. Wayne Farms CEO Clint Rivers will head the combined company upon the deal’s closing, which the companies expect will occur in late 2021 or early 2022.

A person familiar with the situation told The Deal in June that Sanderson had attracted potential interest from Continental and had hired Wachtell, Lipton, Rosen & Katz to advise. Sanderson Farms rejected a hostile takeover bid from Durational Capital Management LP last year. The Laurel, Miss.-based poultry producer previously held a position on The Deal’s Watch List of potential activist targets.

Editor’s note: The original version of this article was published earlier on The Deal’s premium subscription website. For access, log in to TheDeal.com or use the form below to request a free trial.

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