FLINT, MI. (AP) -- Four Flint charities could reap more than $330 million from a sweet windfall.
The Detroit News reports the charities own nearly half of the stock of U.S. Sugar Corp. And the nation's largest grower of cane sugar is set to sell most of its land to Florida in a $1.34 billion deal expected to be approved Tuesday.
But the deal could be delayed by challenges. The Lawrence Group, a Tennessee farming company trying to buy U.S. Sugar, claims its bid would benefit shareholders more than the land sale.
The charities are the Ruth Mott Foundation, Mott Children's Health Center, C.S. Mott Foundation and the Community Foundation of Greater Flint.
The state would pay for 283 square miles of farmland that would be used to help restore the Everglades.
(Copyright ©2008 by The Associated Press. All Rights Reserved.)
