USA: Purina Mills announces delay in closing of merger
Purina Mills, Inc. (Nasdaq: PMIL) announced yesterday a delay in the closing of the proposed Land O'Lakes acquisition. Purina Mills and Land O'Lakes now contemplate that the transaction will close during the month of October. The transaction, which has previously been approved by Purina Mills stockholders and received anti- trust clearance, had been expected to close by the end of September. Under the terms of the merger agreement, Purina Mills has the right to terminate the merger agreement if Land O'Lakes has not obtained the financing necessary to consummate the merger by November 15, 2001.
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