Sanderson Farms (SAFM) Explores Sale - Report

June 21, 2021 4:00 PM EDT

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(Updated - June 21, 2021 4:02 PM EDT)

Sanderson Farms (NASDAQ: SAFM) is exploring a sale, according to Dow Jones, citing people familiar with the matter.

It tapped Centerview Partners for advice on the potential sale and has attracted interest from suitors including Continental Grain.

In October 2020, reported the Sanderson Farms received a $142 per share takeover bid from Tyson Foods (NYSE: TSN) and Durational Capital, according to a source.

Sanderson Farms confirmed the $142 per share offer from Durational Capital, but said it has not received a proposal from Tyson Foods and Durational Capital, saying the offer "very substantially undervalues Sanderson Farms and its future prospects and is significantly below the 52-week high share price of $179.45."

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