{"id":26069,"date":"2012-05-01T11:42:00","date_gmt":"2012-05-01T11:42:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/imperial-sugar-company-louis-dreyfus-commodities-llc-agrees-to-acquire-ipsu\/26040\/"},"modified":"2012-05-01T11:42:00","modified_gmt":"2012-05-01T11:42:00","slug":"imperial-sugar-company-louis-dreyfus-commodities-llc-agrees-to-acquire-ipsu","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/imperial-sugar-company-louis-dreyfus-commodities-llc-agrees-to-acquire-ipsu\/26069\/","title":{"rendered":"Imperial Sugar Company  &#8211; Louis Dreyfus Commodities LLC Agrees to Acquire IPSU"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2012\/05\/IPSU.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-26080\" title=\"IPSU\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2012\/05\/IPSU.png\" alt=\"\" width=\"206\" height=\"133\"><\/a>Imperial Sugar Company (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=IPSU\">NASDAQ: IPSU<\/a>)<\/strong> and Louis Dreyfus <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Commodities<\/a> LLC announced a definitive agreement under which a subsidiary of Louis Dreyfus <a href=\"https:\/\/thestockmarketwatch.com\/markets\/commodities\/today.aspx\">Commodities<\/a> LLC will acquire Imperial Sugar through a cash tender offer and second step merger at $6.35 per share. The $6.35 per share represents a 57% premium to Imperial Sugar\u2019s closing stock price on April 30, 2012, the last trading day prior to today\u2019s announcement, and a 50% premium to Imperial Sugar\u2019s trailing 30-day volume weighted average stock price.<\/p>\n<p>The proposed transaction has been unanimously approved by Imperial Sugar\u2019s board of directors, who have agreed to recommend that Imperial Sugar\u2019s common shareholders tender their shares in the offer. The all-cash transaction represents a value of approximately $203 million, including the assumption of debt and pension liabilities.<\/p>\n<p>John Sheptor, President and Chief Executive Officer of Imperial Sugar, said, \u201cThis is a compelling transaction that delivers significant value for our shareholders while offering financial stability and organizational resources to allow us to continue to meet the needs of our customers.\u201d<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Mikael Morn, Chief Executive Officer of Louis Dreyfus Commodities LLC, said, \u201cImperial Sugar is a well-established operator in the sugar industry in North America, and we see an excellent strategic fit with Louis Dreyfus Commodities LLC. This transaction is an important step forward in our plan to grow and diversify our global sugar activities from sugar cane crushing and international sugar trading into sugar refining and distribution in major consumer markets.\u201d<\/p>\n<p>Under the terms of the merger agreement, Louis Dreyfus Commodities LLC will commence a cash tender offer no later than May 11, 2012. The closing of the transaction is expected to occur during the second calendar quarter of 2012, and is subject to the satisfaction of customary closing conditions, including expiration of the applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act and a minimum tender of at least 66<sup>2\/3<\/sup>% of the Company\u2019s total shares outstanding. Louis Dreyfus Commodities LLC will be funding the transaction through available cash and existing credit lines and the offer will not be subject to a financing condition.<\/p>\n<p>Perella Weinberg Partners LP is acting as exclusive financial advisor to Imperial Sugar and Paul, Weiss, Rifkind, Wharton &amp; Garrison LLP is acting as legal advisor. Barclays is acting as exclusive financial advisor to Louis Dreyfus Commodities LLC and McGrath North Mullin &amp; Kratz, PC LLO is acting as legal advisor.<\/p>\n<p><strong>About Imperial Sugar &#8211; <\/strong><strong>IPSU <\/strong><\/p>\n<p>Imperial Sugar (IPSU) is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. IPSU markets products nationally under the Imperial\u00ae, Dixie Crystals\u00ae, and Holly\u00ae brands.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gildan-activewear-gil-to-acquire-100-of-the-common-shares-of-anvil-holdings\/26338\"><br \/>\nGildan Activewear &#8211; GIL &#8211; To acquire 100% of the common shares of Anvil Holdings<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/kensey-nash-corporation-knsy-dsm-has-agreed-to-acquire-all-of-the-common-stock-of-kensey-nash\/26337\"><br \/>\nKensey Nash Corporation &#8211; KNSY &#8211; DSM has agreed to acquire all of the common stock of Kensey Nash<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/johnson-johnson-china-investment-ltd-jnj-acquired-guangzhou-bioseal-biotech\/26336\"><br \/>\nJohnson &amp; Johnson (China) Investment Ltd. &#8211; JNJ &#8211; Acquired Guangzhou Bioseal Biotech<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/cimarex-energy-xec-reports-first-quarter-2012-results\/26335\"><br \/>\nCimarex Energy &#8211; XEC &#8211; Reports First-Quarter 2012 Results<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/western-refining-wnr-pleased-with-first-quarter-results-and-the-positive-momentum\/26334\"><br \/>\nWestern Refining &#8211; WNR &#8211; Pleased with first quarter results and the positive momentum<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/swift-energy-company-sfy-focused-on-improving-operational-efficiencies-and-reducing-costs\/26333\"><br \/>\nSwift Energy Company &#8211; SFY &#8211; Focused on improving operational efficiencies and reducing costs<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/equity-one-eqy-pleased-with-the-operating-performance-of-core-business\/26332\"><br \/>\nEquity One &#8211; EQY &#8211; Pleased with the operating performance of core business<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Imperial Sugar Company (NASDAQ: IPSU) and Louis Dreyfus Commodities LLC announced a definitive agreement under which a subsidiary of Louis [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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