by: Rosen, Corey
Source: The National Center for Employee Ownership
Recently, there was considerable national attention focused on a lawsuit by former participants in an ESOP (employee stock ownership plan) at U.S. Sugar over whether they had received too little for their shares. Now just a few weeks later, the State of Florida has agreed to buy U.S. Sugar for $1.75 billion. Details of the deal will be worked out over the next several months. The primary purpose of the purchase is to restore the Florida Everglades by turning over the land the company owns to the state for environmental restoration. It is unclear whether any of the company's current refining or processing operations will continue in some form after the deal is closed.
Link: The Sale of U.S. Sugar and ESOPs
Publication Date: 2008-06-01