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Research Update: Saskatchewan Wheat Pool, Agricore United On CreditWatch Following Hostile Bid By Wheat Pool Product Image

Research Update: Saskatchewan Wheat Pool, Agricore United On CreditWatch Following Hostile Bid By Wheat Pool

  • Published: November 2006
  • Standard & Poors

Abstract
On Nov. 8, 2006, Standard & Poor's Ratings Services placed its ratings on Regina-based Saskatchewan Wheat Pool (SWP) on CreditWatch with positive implications. At the same time, Standard & Poor's placed its ratings on Winnipeg, Man.-based grain handler Agricore United (AU) on CreditWatch with developing implications. These CreditWatch placements follow the announcement of SWP's intention to make a hostile bid for AU's common shares, convertible preferred shares, and subordinated convertible debentures. The all-equity transaction would be valued at about C$550 million, with the exception of about C$26.5 million that SWP would pay for AU's convertible preferred shares. If the bid is successful this would be positive for both companies in terms of market share, synergies, and pricing power. The combined...

Companies mentioned in this report are: Viterra Inc.,Archer Daniels Midland Co.,Agricore United
Action: On CreditWatch:Developing
Action: On CreditWatch:Positive

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Viterra Inc.,Archer Daniels Midland Co.,Agricore United

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