Chicken Producer Sanderson Exploring Sale, Dow Jones Says

(Bloomberg) -- Chicken producer Sanderson Farms Inc. is exploring a sale, Dow Jones reported, citing people familiar with the matter.

Laurel, Mississippi-based Sanderson is the third-biggest chicken producer in the U.S. Shares were at $182 as of 4:12 p.m. after the close of regular trading hours, up 9.3% from the close.

Sanderson Farms officials didn’t immediately respond to email and phone requests for comment.

Sanderson CEO Joe Sanderson has said he’d be the last member of the family to run the company, with his daughters uninterested in doing so. However, the company didn’t want to be undervalued while prices for chicken have soared to record highs. The company in October said it rejected an unsolicited bid from Durational Capital Management.

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