A Minnesota cooperative is considering a new acquisition offer ahead of voting on a $200 million takeover bid from CHS.
North Dakota-based Arthur Cos. is offering $250 million for West Central Ag Services, headquartered in Ulen, Minn. The private company recently publicized its pitch to the cooperative online with what it calls a “superior” deal.
West Central Ag Services patrons (a group of customers and members) were scheduled to vote Thursday on the CHS merger proposal. On Wednesday, the co-op pushed the vote to Nov. 26.
“We believe strongly in the value of the cooperative system and think CHS is a great home for West Central Ag Services,” said Rick Dusek, CHS executive vice president of ag retail, distribution and transportation. “CHS is a farmer-owned cooperative that connects farmers to a global supply chain while providing value back to owners.”
“The purpose of our outreach is not to debate the merits of the proposed merger with CHS,” Burgum wrote. “Rather we want to make all the facts available prior to the vote.”
