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Research Update: Saskatchewan Wheat Pool, Agricore United Remain On CreditWatch On Revised Offer For Agricore Product Image

Research Update: Saskatchewan Wheat Pool, Agricore United Remain On CreditWatch On Revised Offer For Agricore

  • Published: May 2007
  • Standard & Poors

Abstract
On May 9, 2007, Standard & Poor's Ratings Services 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 retail operations throughout...

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 READ MORE >

Viterra Inc.,Agricore United

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