WLR Foods, Inc. (Nasdaq:WLRF) on Friday (26 January) announced that its shareholders have approved the cash merger of WLR Foods with a wholly owned subsidiary of Pilgrim’s Pride Corporation (NYSE:CHX, CHX.A). Articles of merger filed today with Virginia’s State Corporation Commission are expected to become effective this weekend.
Following the merger, shareholders of WLR Foods will receive $14.25 for each share of WLR Foods common stock previously held.
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In his comments at the shareholders’ meeting, William D. Wampler, chairman of the board of WLR Foods, said, “We are pleased that our employees and growers have the opportunity to be associated with a company with the quality and integrity that we see today in Pilgrim’s Pride. I believe that Bo Pilgrim shares similar values and beliefs to those on which our company was built nearly 80 years ago.”
James L. Keeler, president and chief executive officer of WLR Foods, commented, “I am proud of the accomplishments made over the years by the dedicated employees and growers of WLR Foods and Wampler Foods.”
WLR Foods is a fully integrated provider of high quality, value-added turkey and chicken products primarily under the Wampler Foods® brand. It is nationally ranked as the seventh largest poultry food processor by sales volume and is an international leader in poultry exports. WLR Foods has processing operations in Virginia, North Carolina, West Virginia, and Pennsylvania.
Statements contained in this press release that state WLR Foods’ or its management’s intentions, hopes, beliefs or expectations or predictions of the future are forward-looking statements. It is important to note that WLR Foods’ actual results could differ materially from those projected in such forward-looking statements.
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