Cargill, Continental Grain Company, and Sanderson Farms have reached a definitive agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms for $203 per share in cash, representing a total equity value for Sanderson Farms of $4.53 billion. The purchase price represents a 30.3% premium to Sanderson Farms’ unaffected share price of $155.74 on June 18, 2021, the last full trading day prior to media speculation about the potential sale of Sanderson Farms; a 22.8% premium to the Sanderson Farms 30-day volume weighted average price as of June 18, 2021, and a 15.2% premium to the all-time high share price as of June 18, 2021. Upon completion of the transaction, Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new, privately held poultry business.

Tyson Foods and Malayan Flour Mills Berhad (MFM) announced a partnership in which Tyson Foods will invest in the Malaysia-based company’s vertically integrated poultry business, which will add more supply flexibility for both companies. The transaction is subject to approval by the shareholders of Malayan Flour Mills Berhad, amongst others.

Gemstone Foods, a growing protein supplier, has appointed Jeff L. Power as President and Chief Operating Officer. “I am extremely pleased to rejoin Gemstone, a great company with so much opportunity,” says Power. “Gemstone’s established organization is prepared to further expand the business by offering innovative, cost effective products and solutions while ensuring quality and service for all of our customers.”

Sanderson Farms announced it has implemented a temporary weekly attendance bonus for the Company’s employees in an amount equivalent to $1.00 an hour for each hour worked. The bonus payment commenced Monday, March 30, 2020, and will end Friday, June 26, 2020. Employees must have perfect attendance during the week in order to earn the bonus. The attendance bonus is applicable to all hourly positions, including new hires.

As COVID-19 continues to impact our daily lives, we are committed to taking every precaution necessary to keep you, our employees, and the communities in which we operate healthy and safe. While there are no known signs that COVID-19 is transferable through food or food packaging, we share global concerns over the spread and impact of the virus.

The North American Meat Institute (Meat Institute) today said meat and poultry producers are leaning in to continue efforts to meet the global demand for meat under difficult circumstances.