Cargill, Continental Grain buying Sanderson Farms for $4.53B

UNDATED (AP)- Cargill and Continental Grain are teaming up in a joint venture to buy Sanderson Farms in a deal worth $4.53 billion as demand for chicken continues to rise. The companies will pay $203 per share in cash. Cargill and Continental Grain 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.