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BRIEF-The Andersons, Inc. To Acquire Lansing Trade Group, Llc

Published 2018-10-15, 04:24 p/m
BRIEF-The Andersons, Inc. To Acquire Lansing Trade Group, Llc
ANDE
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Oct 15 (Reuters) - Andersons Inc ANDE.O :

* THE ANDERSONS, INC. TO ACQUIRE LANSING TRADE GROUP, LLC

* ANDERSONS INC - TRANSACTION TO BE ACCRETIVE TO EPS IN FIRST YEAR

* ANDERSONS INC - DEAL FOR AT A TOTAL OF APPROXIMATELY $305 MILLION.

* ANDERSONS INC - TO ACQUIRE 67.5% OF LANSING EQUITY THAT IT DOES NOT ALREADY OWN FOR CASH AND STOCK

* ANDERSONS INC - EXPECTS TO ACHIEVE ANNUAL RUN RATE COST SYNERGIES OF AT LEAST $10 MILLION BY YEAR-END 2020

* ANDERSONS - WOULD ISSUE ABOUT 4.4 MILLION UNREGISTERED SHARES, WITH SOME SHARES TO REPLACE EXISTING UNVESTED INCENTIVE COMPENSATION&FUND RETENTION PAYMENTS

* ANDERSONS - CO TO PAY ABOUT $175 MILLION IN CASH, TO ISSUE UNREGISTERED SHARES TO CURRENT LANSING EQUITY HOLDERS VALUED AT ABOUT $130 MILLION

* ANDERSONS INC - TRANSACTION WILL ALSO RESULT IN CONSOLIDATION OF THOMPSONS LIMITED OF ONTARIO, CANADA AND RELATED ENTITIES

* ANDERSONS INC - LANSING WILL BE INTEGRATED WITH ANDERSONS' GRAIN GROUP, AND COMBINED OPERATION WILL BE JOINTLY LED BY COREY JORGENSON

* ANDERSONS INC - WILL ASSUME ABOUT $166 MILLION OF LONG-TERM DEBT, CONSISTING OF UP TO $130 MILLION FROM LANSING AND ABOUT $36 MILLION FROM THOMPSONS

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