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Article: Seminis forms special committee in response to Savia's and Fox Paine's proposed transaction with Seminis.
- Article from:
- PR Newswire
- Article date:
- December 19, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Oxnard, California -- Oxnard, California, December 19 /PRNewswire/ -- Seminis, Inc. , the world's largest developer, producer and marketer of vegetable and fruit seeds, has formed a special committee consisting of the independent directors in response to the proposed transaction announced by Savia, S.A. de C.V., Seminis' majority stockholder, and Fox Paine & Company, LLC. Under the proposed transaction, Fox Paine and certain Savia related parties will acquire all of the outstanding shares of Seminis. The special committee has been empowered to evaluate the proposed transaction and its fairness and will make a recommendation to the full Board of Directors.
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