07:54 AM EDT, 05/20/2025 (MT Newswires) -- Ceres Global Ag ( CERGF ) on Tuesday said it agreed to be acquired by Bartlett Grain for US$4.50 cash per share.

The offer is a premium of 153% over Ceres' closing share price of $2.49 on the Toronto Stock Exchange on May 16. The transaction is expected to close in the second half of this year, after which Ceres will be delisted from the exchange.

"Bartlett's acquisition of Ceres is vindication of the strategy we set out to achieve 12 years ago, which is to build the company into one of North America's leading merchandisers of durum, oats, spring wheat, and canola," said Bartlett Chairman Jim Vanasek. "I believe Bartlett is a perfect fit in terms of geography, business lines, and culture, and will take Ceres to the next level."