Louis Dreyfus Commodities completes tender offer for Imperial Sugar

Louis Dreyfus Commodities and Imperial Sugar Company announced the successful completion of the tender offer made by Louis Dreyfus Commodities subsidiary for all of the outstanding shares of common stock of Imperial Sugar at a purchase price of $6.35 per share, net to the seller in cash, without interest, less any applicable withholding taxes as specified in the offer to purchase dated May 11, as amended, and the related letter of transmittal. The tender offer expired at 5:00 p.m., New York City time, on Tuesday, June 19. The aggregate number of shares validly tendered and not properly withdrawn pursuant to the tender offer exceeds the “minimum condition” and, accordingly, Louis Dreyfus Commodities Subsidiary Inc. accepted for payment all such shares in accordance with the terms of the tender offer and will promptly pay for such shares in accordance with the terms of the tender offer. Louis Dreyfus Commodities Subsidiary Inc. will promptly exercise the “top-up option” provided in the merger agreement to purchase additional shares from Imperial Sugar, which will allow Louis Dreyfus Commodities LLC’s subsidiary to complete and close the merger and acquisition of Imperial Sugar without stockholder approval. Louis Dreyfus Commodities LLC expects to complete the merger immediately thereafter, at which time Imperial Sugar will become an indirect wholly owned subsidiary of Louis Dreyfus Commodities.