Sanderson Farms Inc., Laurel, Miss., announced that it will register for possible future sale shares of its common and/or preferred stock at or below $1 billion.
Joe F. Sanderson, Jr., chairman and chief executive officer of Sanderson Farms, said, "Our purpose with this filing is to make available to the company shares that could be used in connection with future acquisitions and other strategic opportunities as they may present themselves. We have no current agreements, plans or discussions to offer any of the registered shares for sale. Our purpose does not include raising cash solely for liquidity, as the Company's financial position remains strong."
Sanderson Farms Inc. produces, processes, markets and distributes fresh and frozen chicken and other prepared food items.
Sanderson Farms moves to sell stock
October 15, 2008