Cargill, Continental Grain buying Sanderson Farms for $4.53B

Sanderson Farms is being acquired for $4.53 billion as the price of chicken soars

Sanderson Farms, one of nation's largest poultry companies, is being acquired for $4.53 billion as the price of chicken soars. Sanderson Farms is the third largest poultry producer in the U.S., processing over 4.8 billion pounds of meat last year, according to the company. Cargill and privately held Continental Grain formed a joint venture to acquire Sanderson and will pay $203 per share in cash. The companies plan to combine Sanderson Farms with Wayne Farms, a Continental Grain subsidiary, to form a new, privately held poultry business. Operations will include poultry processing plants and prepared foods plants across Alabama, Arkansas, Georgia, Louisiana, Mississippi, North Carolina, and Texas.