Smithfield Foods answers DOJ query |
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Published
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Tue, 06 Feb 2007 00:14
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SMITHFIELD, Va. (AFX) - Smithfield Foods Inc. said Monday it has complied with a Department of Justice antitrust division request for information related to the pork processor's acquisition of rival Premium Standard Farms Inc.Smithfield said it plans to acquire the pork producer for $674 million in cash and stock and assume $117 million in debt.Smithfield said it hopes the antitrust division can complete its review in enough time for the deal to close in the first quarter of 2007.A Premium Standard Farms shareholders meeting has been scheduled for Feb. 23 to vote on the deal.Smithfield Foods shares fell 25 cents to close at $26.13 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Premium Standard 3Q earnings drops 