05:07 PM EDT, 06/06/2024 (MT Newswires) -- Andersons (ANDE) said late Thursday it has signed a non-binding letter of intent to buy an ownership interest in Skyland Grain.

Andersons said it has exclusivity while the two companies are in talks for a definitive agreement, subject to due diligence, as well as approval by the boards of both companies and other conditions.

There's no assurance that the companies will reach a definitive agreement or that the planned deal will be completed, Andersons said.

Skyland has grain storage and handling operations in Kansas, Colorado, Oklahoma, and Texas