Smithfield faces investor pressure
Smithfield Foods has said it will "review" criticism from major shareholder Continental Grain into the US meat processor's strategy and the investor's call to split the company in three.
A major investor in Smithfield Foods has called on the US meat giant's board to consider splitting the company in three.
Smithfield Foods said its move to become a company focusing more on "value-added" packaged meats is working after the US company reported "strong" third-quarter results.
US meat processor Smithfield Foods plans to form a joint venture with Kansas City Sausage Co.
Smithfield Foods CEO Larry Pope has insisted the group is under-valued after shares in the meat firm fell more than 7% after fourth-quarter results that failed to meet analyst expectations.