NOT SO FAST . . . . . Olymel gets Big Sky for $62.25 Million

[Oscar]

Olymel gets Big Sky as no other buyers appear

http://www.canadiancattlemen.ca/news/
olymel-gets-big-sky-as-no-other-buyers-appear/1001978771/

Hog farms stressed by high feed costs

Jan 9, 2013 4:52 PM Winnipeg | Reuters

Quebec meat packing giant Olymel will buy one of Canada's largest hog farms out of receivership, after no superior bids emerged.

Olymel will pay $65.25 million for Big Sky Farms, based at Humboldt, Sask., in a deal that will likely close by the end of January, said the receiver, Ernst and Young senior vice-president Kevin Brennan, on Wednesday.

Privately-held Olymel made the offer in October, kicking off a sales process that would have led to an auction if there had been a higher bid.

The Montreal-based company currently does not raise hogs, but operates a large hog-slaughter plant at Red Deer, Alta.

Big Sky entered receivership in early September after piling up $69 million in debt to secured creditors.

MORE:

http://www.canadiancattlemen.ca/news/
olymel-gets-big-sky-as-no-other-buyers-appear/1001978771/