A Minnesota cooperative is considering a new acquisition offer ahead of voting on a $200 million takeover bid from CHS.

North Dakota-based Arthur Cos. is offering $250 million for West Central Ag Services, headquartered in Ulen, Minn. The private company recently publicized its pitch to the cooperative online with what it calls a "superior" deal.

West Central Ag Services patrons (a group of customers and members) were scheduled to vote Thursday on the CHS merger proposal. On Wednesday, the co-op pushed the vote to Nov. 26.

Inver Grove Heights-based CHS and West Central Ag Services signed a nonbinding letter of intent to merge in May.

"We believe strongly in the value of the cooperative system and think CHS is a great home for West Central Ag Services," said Rick Dusek, CHS executive vice president of ag retail, distribution and transportation. "CHS is a farmer-owned cooperative that connects farmers to a global supply chain while providing value back to owners."

Arthur Cos. CEO James Burgum, nephew of outgoing North Dakota Gov. Doug Burgum, wrote in a letter that the company made an offer this spring but could not get an audience with management.

"We're grateful for the leadership of West Central's board of directors for giving their growers the appropriate time and space to evaluate both of these offers," Burgum said in a statement. "The Arthur Companies would welcome the opportunity to meet with the board and answer any questions they have about our offer."

West Central Ag Services CEO Jesse McCollum told AgWeek the cooperative is considering the offer. He did not immediately respond to a request for comment Wednesday.

West Central, which largely operates in the Red River Valley, had $767 million in revenue in 2023 and $34 million in profits..

Meanwhile, CHS on Wednesday reported a $1.1 billion profit on $39.3 billion in revenue for its fiscal year that ended in August.

Lower commodity prices affecting agribusinesses worldwide were largely to blame for the 42% drop in profit following a record year of earnings in 2023. Energy profits were especially squeezed at the nation's top-grossing agricultural cooperative.

"We remain committed to strategically investing in strengthening our grain, agronomy and energy supply chains to provide end-to-end value and enhance market access for U.S. growers," CHS CEO Jay Debertin said in a prepared statement. "As our industry navigates a challenging market environment, CHS is focused on efficiency and managing costs while still enhancing customer experience and driving growth on behalf of our owners."

Correction: Earlier versions of this story had the wrong percentage of decline in CHS' profits.