USA: Smithfield Foods in talks to buy out holding company Smithfield Cos
Major hog producer Smithfield Foods is currently in talks to buy out holding company Smithfield Cos , after the two companies signed an exclusivity agreement that gives them 20 days to negotiate a potential transaction. According to an amendment of Schedule 13D, which was filed with the Securities and Exchange Commission (SEC) yesterday, Smithfield Foods could complete the buyout for US$8.5 per share in cash. This values each share at US$1.5 above their current over-the-counter trading value. The company stressed however that there are no guarantees a transaction would be completed at that price, which values the offer at US$143m.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Comment: Meal kits in US - don't believe the hype
- Kraft Heinz cuts jobs in US, Canada
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Brazil seeks to cool concerns over meat probe
- US meal delivery service Blue Apron buys BN Ranch