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MGP Legal Battle Nearing End

By Joel Hardy

11/04/2013

(KAIR)-- The nearly year long legal battle between stockholders and the leadership of Atchison based MGP ingredients that nearly signaled the end for the company looks like it will be ending in the next few weeks. Karen Seaberg, a member of the board of directors and part of the Cray family group that has been fighting to regain control of the company, says that the lawyers and both sides of the proxy contest are currently in negotiations, and they hope for a resolution within the next week or so.

Seaberg says that there are a few different scenarios that could take place after a settlement is reached, it all depends on what comes out of the current negotiations. Though she hopes that the board of directors can meet soon, and set a date for the next stockholders meeting, which she hopes can take place before Thanksgiving.

The shareholders meeting is the final step, she says, to getting the company back to normal day to day operations.

The company's current leadership had tried to delay the stockholders meeting by filing a stay in Kansas courts, but that stay was ended by the courts last month.

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