734 Agriculture and Arlon Group Purchase Majority Interest in Alico, Inc. (ALCO)
Ideas get bigger when you share them...
New York, NY - October 18, 2013 (www.investorideas.com newswire) Alico, Inc. (NASDAQ: ALCO) announced that 734 Agriculture and Arlon Group have entered into definitive agreements to acquire 50.5% of Alico's outstanding voting stock from Atlantic Blue Group, a family owned holding company.
The all cash transaction values the majority stake in Alico at $37 per share, for a total purchase price of $137.8 million. The transaction is scheduled to close during the fourth calendar quarter of 2013.
Upon close of the transaction, Clay G. Wilson, a third generation citrus grower associated with the citrus industry for more than 28 years, is expected to replace JD Alexander as CEO of Alico. Mr. Wilson currently serves as CEO of 734 Citrus Holdings, LLC and Silver Nip Citrus, companies also owned and controlled by 734 Agriculture.
734 Agriculture is a private agricultural business investment company. Arlon Group is a global food and agriculture investment firm founded by Continental Grain Company.
Alico owns and manages approximately 130,000 acres of land in five Florida counties. The company generates most of its revenue from agricultural businesses such as citrus production, sugarcane production and cattle ranching. Alico’s non-agricultural operations include land leasing, rock and sand mining, mineral and oil leasing, and real estate development.
Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.
The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.
The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. The company prepaid a monetary fee of $5,250 (USD) in August 2012 for the creation and dissemination of research reports for the first three months. After the first three months of publication, the company will pay a monthly monetary fee of $1,750 (USD) to Taglich Brothers, Inc., for the creation and dissemination of research reports.
This news is published on the Investorideas.com Newswire and its syndicated partner network
Published at the Investorideas.com Newswire - Big ideas for Global Investors
Disclaimer/ Disclosure:The Investorideas.com newswire is a third party publisher of news and research as well as creates original content as a news source. Original content created by investorideas is protected by copyright laws other than syndication rights. Investorideas is a news source on Google news and Linkedintoday plus hundreds of syndication partners. Our site does not make recommendations for purchases or sale of stocks or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated by featured companies, news submissions, content marketing and online advertising. Contact each company directly for press release questions. Disclosure is posted on each release if required but otherwise the news was not compensated for and is published for the sole interest of our readers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
BC Residents and Investor Disclaimer : Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.