Sanderson Farms is exploring a sale as chicken prices rise on increased demand, according to a report from the Wall Street Journal.
Shares of Sanderson Farms closed at $166.58 on Monday, up 6.96% on the talk of a potential deal. In extended trading, the stock climbed more than 11%, boosting its market cap to more than $3.72 billion. Any buyer would need to pay a premium to that price.
Citing people familiar with the matter, the paper said Sanderson hired Centerview Partners for advice after attracting the interest of potential buyers, including agricultural investment firm Continental Grain. The Journal said the discussions between the parties may not result in a sale.
To read the rest of the story, please go to: CNBC
