NEW YORK (S&P Global Ratings) Aug. 9, 2021--S&P Global Ratings today said that Cargill Inc.'s (A/Stable/--) leverage will remain within the expectations for the rating following an announcement that Cargill, Continental Grain Co. (not rated), and Sanderson Farms Inc. (not rated) have reached a definitive agreement for a joint venture between Cargill and Continental Grain to acquire Sanderson Farms in a transaction representing a total equity value for Sanderson Farms of $4.53 billion. Upon completion of the transaction, Cargill and Continental Grain will combine Sanderson Farms with Wayne Farms, a subsidiary of Continental Grain, to form a new, privately held poultry business. We do not anticipate this joint venture will be consolidated by Cargill, and therefore do not anticipate any
