Poultry slam: Wayne Farms withdraws $250 million IPO

Wayne Farms, the sixth largest integrated producer and processor of broiler chickens in the US, withdrew its plans for an initial public offering on Wednesday.

It had set terms to raise $250 million in June 2015, but postponed the IPO.

The Oakwood, GA-based company was founded in 1965 and booked $2.2 billion in sales for the 12 months ended March 31, 2015. It had planned to list on the Nasdaq under the symbol WNFM. Citi, J.P. Morgan and BMO Capital Markets were set to be the joint bookrunners on the deal.