Sanderson Farms Issues Statement on Unsolicited Proposal
Sanderson Farms, Inc. issued the following statement:
Sanderson Farms has not received a proposal from Tyson Foods and Durational Capital Management. The Sanderson Farms Board of Directors has unanimously rejected an unsolicited proposal from Durational Capital Management, a new shareholder, to acquire the Company for $142 per share, a price that very substantially undervalues Sanderson Farms and its future prospects and is significantly below the 52-week high share price of $179.45. After careful consideration, with the assistance of its financial and legal advisors, the Board unanimously determined that the highly conditional and opportunistic proposal is not...
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