Imperial Sugar Acquisition Nears Deadline

Louis Dreyfus Commodities LLC's tender offer to acquire all outstanding common shares at $6.35 each is scheduled to expire June 11.

  • Jun 11, 2012

By the time Imperial Sugar Company CEO John C. Sheptor delivers a keynote speech at next week's AIHce conference in Indianapolis, the company may be on its way to being part of Louis Dreyfus Commodities LLC, a major food conglomerate with operations located worldwide. Louis Dreyfus Commodities LLC subsidiary Louis Dreyfus Commodities Subsidiary Inc. began the tender offer May 11; the offer price is a 57 percent premium above Imperial Sugar's closing stock price on April 30, the day before Imperial Sugar and Louis Dreyfus Commodities LLC announced their definitive merger offer.

Imperial Sugar's board of directors unanimously recommended that shareholders tender their shares.

Sheptor is scheduled to speak at 8 a.m. June 20 during the general session on the final day of the AIHce expo about his company's safety transformation after a combustible dust explosion devastated part of its Port Wentworth, Ga., sugar refinery.

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