July 26 (Reuters) - AGT Food and Ingredients Inc AGT.TO :
* AGT FOOD AND INGREDIENTS ANNOUNCES RECEIPT OF A PROPOSAL TO EFFECT A MANAGEMENT BUYOUT
* AGT FOOD AND INGREDIENTS - RECEIVED PROPOSAL FROM A GROUP COMPRISED OF CERTAIN MEMBERS OF CO'S MANAGEMENT GROUP, LED BY CEO, TO PRIVATIZE CO
* AGT FOOD AND INGREDIENTS INC - BOARD AGREED TO ESTABLISH COMMITTEE OF INDEPENDENT DIRECTORS TO CONSIDER PROPOSAL
* AGT FOOD AND INGREDIENTS - PROPOSAL CONTEMPLATES FAIRFAX FINANCIAL HOLDINGS LIMITED & POINT NORTH CAPITAL WILL RETAIN EQUITY INTERESTS IN AGT
* AGT FOOD AND INGREDIENTS - CO'S CEO, OTHER MEMBERS OF THE MANAGEMENT GROUP, COLLECTIVELY OWN SHARES REPRESENTING ABOUT 17% OF OUTSTANDING SHARES OF CO
* AGT - UNDER PROPOSAL MANAGEMENT GROUP TO ACQUIRE CO'S SHARES OTHER THAN THOSE HELD BY IT, SOME SHAREHOLDERS, FOR C$18 IN CASH FOR EACH EARNINGS PER SHARE