Agricore accepts SWP's (Saskatchewan Wheat Pool) revised take-over bid:
The Canadian agrochemical distribution, seed and grain handling company, Agricore (Winnipeg, Manitoba), has accepted a revised take-over bid by Saskatchewan Wheat Pool (SWP - Saskatoon, Saskatchewan). The new cash offer of Can$20.50 (US$18.50) per share values Agricore at some Can$1,800 million. Agricore has terminated its recent acquisition agreement with James Richardson International (JRI - Agrow No 518, p 2). Under the new deal, which JRI supports, Agricore will sell certain grain and retail facilities to JRI after the closure of the SWP transaction. The combined Agricore/SWP operation will be the largest Canadian agribusiness, with annual sales of some Can$4,000 million, the companies point out.