Louis Dreyfus Commodities LLC Announces Extension Of Tender Offer For Shares Of Imperial Sugar Company
Louis Dreyfus Commodities LLC today announced an extension of the offer
period for the previously announced tender offer for all of the
outstanding shares of common stock of Imperial Sugar Company
Louis Dreyfus Commodities LLC today announced an extension of the offer period for the previously announced tender offer for all of the outstanding shares of common stock of Imperial Sugar Company (NASDAQ:IPSU) (“Imperial Sugar”) by Louis Dreyfus Commodities LLC’s subsidiary Louis Dreyfus Commodities Subsidiary Inc., for $6.35 per share in cash, without interest and less any applicable withholding taxes. The tender offer, which was previously scheduled to expire at 9:00 a.m., New York City time, on Monday, June 11, 2012, is now scheduled to expire at 11:59 p.m., New York City time, on June 15, 2012. All other terms and conditions of the tender offer remain unchanged. The depositary for the tender offer has advised that, as of 7:00 a.m., New York City time, on Monday, June 11, 2012, 8,022,231 shares of Imperial Sugar common stock have been tendered and not withdrawn, representing approximately 64.3% of the outstanding shares on a fully-diluted basis. Certain of the shares were tendered pursuant to notices of guaranteed delivery. If shareholders have any questions or require assistance in tendering please call our Information Agent, MacKenzie Partners, at (800) 322-2885. About Imperial Sugar Imperial Sugar is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial®, Dixie Crystals®, and Holly® brands. For more information about Imperial Sugar, visit www.imperialsugar.com. About Louis Dreyfus Commodities LLC Louis Dreyfus Commodities LLC and its subsidiaries have a highly diversified agricultural business in North America and operate in the cotton, grains, oilseeds, sugar, rice, freight, coffee, and juice markets. With approximately 1,650 employees, Louis Dreyfus Commodities LLC’s operations include 6 agricultural processing plants and over 30 logistics assets including 5 grains/oilseeds export elevators, 10 interior grains/oilseeds elevators and 20 cotton warehouses.
Shares of Imperial Sugar Company (Nasdaq:IPSU) were gapping down Thursday morning with an open price 14.9% lower than Wednesday's closing price. The stock closed at $4.35 yesterday and opened today's trading at $3.70.
Imperial Sugar Company (Nasdaq:IPSU) hit a new 52-week low Thursday as it is currently trading at $6.48, below its previous 52-week low of $6.50 with 168,141 shares traded as of 12:35 p.m. ET. Average volume has been 439,500 shares over the past 30 days.