Cargill, Continental Close Deal for Chicken Maker Sanderson (2)

Cargill Inc. and Continental Grain Co. closed their $4.5-billion takeover of Sanderson Farms Inc., overcoming resistance from lawmakers over shrinking competition in the US poultry industry.

The two companies will combine the third-biggest US chicken company with Wayne Farms, a subsidiary of Continental and the sixth-largest poultry processor, according to a Friday statement. The new business will be named Wayne-Sanderson Farms, based in Oakwood, Georgia, and be led by Wayne Farms Chief Executive Officer Clint Rivers.

The Justice Department, which has been reviewing the deal since August 2021, are likely to announce a settlement next week, a person ...