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Cargill

Kimberly Redmond | Equities.com |

Poultry giant Sanderson Farms Inc (Nasdaq: SAFM) has agreed to be sold for $4.53 billion to food company Cargill Inc and agricultural investment firm Continental Grain Co in a deal that would take the country’s third-biggest chicken producer private.

On Monday, the two buyers announced they have formed a joint venture to acquire Sanderson Farms, which will be combined with Wayne Farms, a Continental Grain subsidiary, to create a new, privately-held poultry business.