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Saskatchewan Wheat Pool, Agricore United Still On CreditWatch On Revised Offer For Agricore
Standard & Poors, May 2007
TORONTO (Standard & Poor's) May 9, 2007--Standard & Poor's Ratings Services today said it maintained the CreditWatch listings on Saskatchewan Wheat Pool (SWP; B+/Watch Pos/--) and Agricore United (AU; BB/Watch Dev/--), following SWP's revised C$1.8 billion offer for AU. (The ratings on both companies were placed on CreditWatch Nov. 8, 2006.) The new proposal, under which SWP will enhance and extend its common share offer for all of AU's shares outstanding, has been deemed a "superior proposal" by AU's board relative to James Richardson International Ltd.'s (JRI) April 19, 2007, proposal. As such, JRI's proposal has been terminated. The new offer will also entail a purchase agreement with JRI under which JRI will purchase certain AU grain facilities and agri-products...
Companies mentioned in this report are: Viterra Inc.,Agricore United
Action: CreditWatch Update
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Viterra Inc.,Agricore United