With a message also posted on its website and social media, the West Central Ag Services board of directors has delayed its member vote on a potential merger.
The original vote was scheduled for Thursday, Nov. 7 after members had an opportunity to review the offer from CHS for acquisition. However, earlier in the week The Arthur Companies launched a campaign alerting farmers of its previously denied offer to purchase the business. This was reported on Tuesday in the story: Can A Last-Minute Campaign Derail An Ag Retail Merger?
The message from the West Central Board reads:
As you may already know, on November 4, 2024, West Central Ag Services received an unsolicited bid to be acquired by The Arthur Companies. Our Board of Directors has reviewed this unsolicited offer and has decided to postpone the November 7, 2024 patron meeting until November 26, 2024 in order to further evaluate this offer. Rest assured, our Board of Directors is taking The Arthur Companies offer seriously and is focused on ensuring the best outcome for our patron members. We apologize for this inconvenience, as we know many of you have made special arrangements to attend the November 7 patron meeting to exercise your vote with this important matter. As always, you may reach out to the West Central executive management team if you have any questions or concerns.
The vote is being held at the company’s headquarters in Ulen, Minn. On social media, some individuals posted concern having the rescheduled vote the week of Thanksgiving citing travel conflicts during the holiday.
CEO of the Arthur Companies, James Burgum says, “We’re grateful for the leadership of West Central’s board of directors for giving their growers the appropriate time and space to evaluate both of these offers. The Arthur Companies would welcome the opportunity to meet with the board and answer any questions they have about our offer.”
