Details have been released regarding the agreement to privatize Saskatchewan-based AGT Food and Ingredients Inc.

The buyer group will offer $18 per common share, which is a premium of 36.7 per cent to the closing price on the TSE on July 26.

The buyer group consists of AGT President and Chief Executive Officer, Murad Al-Katib, Fairfax Financial Holdings Limited and Point North Capital Inc.

"Following a fairly lengthy process to consider the interests of all stakeholders of AGT and the future of the Company, the management group, together with the other members of the Buyer Group, are excited at the prospect of a new chapter of AGT," said Al-Katib. "We look forward to a positive outcome of the shareholders vote to continue our journey with our employees and the Buyer Group."

Closing of the transaction is expected to occur in the first quarter of 2019.

 

More Ag News

MacAulay Wraps Up U.S. Visit

Federal Agriculture Minister Lawrence MacAulay has wrapped up a successful visit to the United States, making stops in Arlington, Virginia, and Washington, D.C. MacAulay took part at the United…

Considerations When Shopping For Your Next Bull

Beef producers are looking for their new herd sires this time of year. Beef Cattle Research Council (BCRC) Research and Innovation Coordinator, Stacey Domolewski, says there's no one type of bull…

Snow Causes Shut Down At Simplot's Portage Potato Facility

The build-up of snow and ice on the roof at Simplot's potato processing facility just west of Portage la Prairie has led to a shutdown. Josh Jordan is a Senior Communications Manager for the J.R.…

MPSG Looking For On-Farm Research Participants

Last year, Manitoba Pulse and Soybean Growers (MPSG) conducted over 70 on-farm research trials across the province. On-Farm Specialist Greg Bartley talked about their focus this year. "We have a…

Tilray To Acquire Manitoba Harvest

Cannabis producer Tilray Inc., based in Nanaimo, B.C., has announced a deal to acquire Manitoba Harvest for up to $419 million dollars in cash and stock. Manitoba Harvest was founded in 1998 and is…

CFIA Publishes Amendments To Health Of Animals Regulations On Animal Transportation

On Wednesday, the Canadian Food Inspection Agency (CFIA) published amendments to the Health of Animals Regulations on animal transportation. The overall objective is that animals arrive at their…

MacAulay To Speak At USDA Ag Outlook Forum

Federal Agriculture Minister Lawrence MacAulay will be in Arlington, Virginia, and Washington, D.C., this week. He will meet with United States Agriculture Secretary Sonny Perdue and Mexican…

Corteva Agriscience Acquires Clearfield Canola In Canada And U.S.

Corteva Agriscience, Agriculture Division of DowDuPont, announced that it has acquired the Clearfield Canola Production System in Canada and the United States from BASF. Clearfield canola is a…

New Corn Growing Manual Available

The Manitoba Corn Growers Association (MCGA) has released an updated manual for growing corn entitled “Field Corn Production in Manitoba - A Guide for Crop Management and Agronomy”. The manual was…

Important To Monitor Sow Body Condition

It's important for hog producers to pay close attention to the body condition of their sows. Dr. Mark Knauer, swine extension specialist with North Carolina State University, spoke about the issue…

Government Invests In Animal Welfare

On Tuesday, Agriculture and Agri-Food Minister Lawrence MacAulay announced an investment of up to $4.56 million to the Canadian Animal Health Coalition. The investment was made on behalf of the…

Manitoba Bison Association Joins MFGA Board

The Manitoba Bison Association (MBA) has joined the board of the Manitoba Forage and Grassland Association (MFGA). "We are excited to have the MBA join MFGA," said Darren Chapman, MFGA chair. "Not…

Steinbachonline.com is Steinbach's only source for community news and information such as weather and classifieds.

Login