AGT OKs proposed privatization price

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In Brief

A management group at AGT Food and Ingredients Inc. is proceeding with its attempt to purchase and privatize the company.

A special committee of directors has unanimously determined it supports the buyer group’s bid of $18 per share.

The committee hired TD Securities, which valued AGT’s common shares at between $17.50 and $21.50 per share as of Oct. 1, 2018.

The management group is led by AGT president Murad Al-Katib and includes Fairfax Financial Holdings Ltd. and Point North Capital Inc. Together the group owns 27.5 percent of AGT’s common shares.

About the author

Sean Pratt has been working at The Western Producer since 1993 after graduating from the University of Regina’s School of Journalism. Sean also has a Bachelor of Commerce degree from the University of Saskatchewan and worked in a bank for a few years before switching careers. Sean primarily writes markets and policy stories about the grain industry and has attended more than 100 conferences over the past three decades. He has received awards from the Canadian Farm Writers Federation, North American Agricultural Journalists and the American Agricultural Editors Association.