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SWP Extends Agricore United Bid
REGINA - Mar 7/07 - SNS -- The Saskatchewan Wheat Pool (SWP) is persisting with efforts to buy Agricore United and has extended its deadline to buy all outstanding limited common voting shares and Series A convertible preferred shares from to day until April 11.
The SWP did not indicate it will sweeten its bid now that the Agricore United board has recommend shareholders accept a February 21 take-over bid from James Richardson International Ltd. and the Ontario Teachers' Pension Plan.
If accepted that takeover bid quickens the return of western Canada's grain industry from farmer-controller businesses back to the private sector, reversing nearly all strides made by the cooperative movement 80 to 90 years ago.
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