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Smithfield Foods Inc. (SFD)

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SFD is defunct since September 26, 2013. Acquired by Shuanghui International
  • Jul. 12, 2013, 6:11 PM
    Starboard Value, the activist hedge fund that owns a 5.7% stake in Smithfield Foods (SFD), reportedly is hiring advisers to help press its case for a different deal than one already arranged with China's Shuanghui. SFD has agreed to be bought by Shuanghui for $34/share, or $4.7B, in what would be the biggest Chinese takeover of a U.S. company.
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  • Jul. 10, 2013, 7:53 AM
    The Senate Agriculture Committee will meet next week to discuss the proposed takeover of Smithfield Foods (SFD) by Shuanghui International. Reps from other federal agencies will be able to participate at the hearing in order to probe any potential impact of the deal on national security.
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  • Jul. 5, 2013, 7:40 AM
    Shuanghui Group says a veto by Missouri Governor Jay Nixon on foreign ownership of farmland in the state won't stop the company from purchasing Smithfield Foods (SFD). Execs with Shuanghui say work-arounds will exist to skirt the ban, including a plan to lease the needed farmland.
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  • Jun. 26, 2013, 10:05 AM
    Caesars Entertainment (CZR) has become the most recent company to sever ties with Paula Deen, after Deen's less than successful belated interview with Matt Lauer on this morning's Today Show. Caesars will close and/or rebrand its four Paula Deen buffets at properties in Illinois, Indiana, North Carolina and Tennessee. Food Network was the first to distance itself from Deen after racial insensitivity surfaced (previous), followed by Smithfield Foods (SFD) on Monday.
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  • Jun. 20, 2013, 12:48 PM
    A group of U.S. senators plan to put Smithfield Foods (SFD -0.2%) through the meat grinder before the company can have its acquisition by Shuanghui International approved. The group wants the Department of Agriculture and the FDA involved in the government review of the transaction to protect national security interests. Analysts think the deal will still fly, although they predict the review process could stretch out a few months.
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  • Jun. 19, 2013, 11:36 AM
    Smithfield Foods (SFD +0.3%) made an interesting disclosure yesterday in a SEC filing. The company was considering a "potentially significant acquisition" of a large business in the packaged meats sector. The speculation from dealReporter is that it was Hillshire Brands (HSH +1.5%) in the crossfires, an acquisition which makes sense and could be on the table again if regulators stop the Shuanghui International purchase of Smithfield.
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  • Jun. 18, 2013, 4:43 AM
    Smithfield Foods (SFD) intends to review a letter from activist investor Starboard, which reckons that the pork producer could earn more value by splitting up into three and then selling itself rather than going through with its $4.7B acquisition by Shuanghui. However, Smithfield reiterated its recommendation that shareholders vote for the Shuanghui deal, as it provides "significant, immediate and certain" cash value to shareholders.
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  • Jun. 17, 2013, 8:49 AM
    Smithfield Foods (SFD) moves up 1.4% premarket after Starboard Value pitches that a piecemeal sale of the company might make sense. The sum-of-the-parts chatter could also provide another lift for the packaged meats sector as a whole. On watch: Tyson Foods (TSN), Seaboard Corporation (SEB), Hillshire Brands (HSH), and Hormel Foods (HRL).
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  • Jun. 17, 2013, 3:37 AM
    Activist investor Starboard Value has reportedly taken a 5.7% stake in Smithfield (SFD) and is urging the company to split up into three rather than complete its $4.7B acquisition by China's Shuanghui. Starboard reckons Smithfield could be worth $44-55 if it were to break up into separate U.S. pork production, hog farming and international-sales companies, well above Shuanghui's offer of $34 a share.
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  • Jun. 14, 2013, 8:33 AM
    Smithfield Foods (SFD): FQ4 EPS of $0.21 misses by $0.21. Revenue of $3.32B (+3% Y/Y) beats by $0.05B. (PR)
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  • Jun. 14, 2013, 12:05 AM
    Notable earnings before Friday's open: AMSC, SFD
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  • Jun. 13, 2013, 5:30 PM
    Notable earnings before Friday's open: AMSC, SFD
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  • Jun. 11, 2013, 9:38 AM
    The mystery over some suspicious options trading on Smithfield Foods (SFD -0.1%) just in front of its acquisition by Shuanghui International appears to have been solved with the freezing of an account in Thailand that accounted for a bulk of the profitable activity. The SEC has already found a connection between the Thai trader and Smithfield Foods through Facebook but will need a bit more evidence to file charges.
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  • Jun. 10, 2013, 9:50 AM
    The view from China is that U.S. politicians miss the big picture as they prattle on about the impact of a Chinese company buying Smithfield Foods (SFD -0.2%). Despite the focus on the Smithfield deal, China still doesn't rank in the top 20 nations for foreign direct investment in the U.S. According to groups supporting China acquisitions, those investments help bring the cultures closer which can ultimately mean more sales for U.S. firms (Nike, McDonald's, Coca-Cola, etc.) in China.
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  • Jun. 10, 2013, 3:08 AM
    Shuanghui International's $4.7B acquisition of Smithfield Foods (SFD) could be complicated by little-known and rarely tested laws in several states that ban foreign ownership of agricultural land. Smithfield's 11 slaughterhouses and meat factories in the states are probably exempt from the prohibitions, although the company's possible reliance on farm, feed or waste facilities could attract legal challenges. States with foreign-ownership restrictions include Iowa and Wisconsin.
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  • Jun. 6, 2013, 11:41 AM
    Though Michigan Senator Debbie Stabenow is the latest politician to make some noise about a Chinese company buying Smithfield Foods (SFD -0.3%), investors seem to be betting the deal will end up flying. Regulators will look into any potential national security issues, but with the crux of the deal being U.S. hog farms helping to provide exports to China - instead of vice-versa - it should pass muster.
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Company Description
Smithfield Foods, Inc., together with its subsidiaries (the “Company,” “we,” “us” or “our”) began as a pork processing operation called The Smithfield Packing Company, founded in 1936 by Joseph W. Luter and his son, Joseph W. Luter, Jr. Through a series of acquisitions starting in 1981, we have... More
Industry: Meat Products
Country: United States