News International Sugar Journal

Louis Dreyfus Commodities buys Imperial Sugar, but the sale price is deemed cheap [Registered]

The Dutch-based Louis Dreyfus Commodities recently bought Imperial Sugar for $78 million. The total value of the transaction is $203 million, including the assumption of debt and pension liabilities, according to the companies. But this is not entirely welcome news from one particular quarter. The law firm Levi & Kornsinsky have stated in their press release of 1 May that the Board of Directors of Imperial Sugar are being investigated for selling the company cheaply, and in doing so are in possible breach of their “fiduciary duty”. Dreyfus agreed to pay $6.35 per share in an all-cash transaction. That is…

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