Cal-Maine Foods, the largest US producer and distributor of fresh shell eggs, has announced that its board of directors has unanimously voted to explore the possibility of the company becoming privately held.
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While no final decision has been made, the company said a special committee of three independent directors has been appointed to investigate the feasibility of such an action and to ensure that the best interests of the company and its shareholders are served.
The Jackson, Mississippi-based company said that should the special committee recommend the company become privately held, such action would require the approval of the full board of directors and the shareholders, as well as the consent of certain of the company’s lenders.
