Winnipeg-Agricore United said April 4 that it will engage in discussions with and provide confidential information to Saskatchewan Wheat Pool Inc. (SaskPool) in connection with SaskPool’s recently revised offer of $8.00 in cash and 0.95 of a SaskPool common share for each limited voting common share of AU (GM April 2, p. 1). AU will evaluate the SaskPool proposal to determine whether it constitutes a “superior proposal” under the acquisition agreement with James Richardson International Ltd. (JRI). AU expects to make the decision within a week. If AU determines that SaskPool has made a superior offer it must provide notice to JRI, which would then have five business days to match or top the SaskPool proposal. If JRI opts not to match or top, AU must pay JRI a $24 million termination fee.
Transparency Across the Fertilizer Value-Chain