Published:
U.S. Sugar Corp. Statement Regarding The Lawrence Group
CLEWISTON, Fla., Nov. 20 /PRNewswire/ -- In response to a news story about
interest expressed by The Lawrence Group in acquiring U.S. Sugar Corp., Senior
Vice President of Public Affairs, Robert Coker said:
No actual offer has been received. Our directors and some of our
stockholders have received a letter from The Lawrence Group expressing its
interest in acquiring all the stock of U.S. Sugar Corporation. As would be
the case with any such proposal, our Board of Directors will carefully review
it with its professional advisors and the Company's management team. To
facilitate its review, the Board's financial advisor will request The Lawrence
Group to provide specific details to enable it to evaluate the proposal. The
Board's goal is to be in a position to give fully informed consideration to
the potential transaction, consistent with its fiduciary obligations to
represent the interests of the stockholders, and to compare the merits of the
proposal with the transaction currently being negotiated with the South
Florida Water Management District, as well as any other proposals that may be
received. Our directors are continuing to review and evaluate the
alternatives available to the Company and its stockholders, and look forward
to an orderly, measured, and considered process that will result in a
transaction that is in the best interests of the Company and its stockholders.
SOURCE U.S. Sugar Corp.
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