USA: Smithfield Foods Offers to Acquire IBP in Stock-for-Stock Transaction Valued at $25 Per Share
Smithfield Foods, Inc. (NYSE: SFD) announced yesterday that it has offered to acquire all of the outstanding shares of IBP, Inc. (NYSE: IBP) through a tax-free merger in which IBP shareholders would receive $25 per share payable in Smithfield Foods common stock at an exchange ratio based on the average price of Smithfield Foods shares for a period prior to the closing.
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