Smithfield (SFD), KC Sausages Form JV: Deal Will be Immediately Accretive
- GM (GM) No Longer 'Government Motors'
- After Hours Stock Movers 12/9: (CMTL) (LL) (DDD) Higher; (PBY) (TA) (NXPI) Lower (more...)
- Market Wrap: Sysco Scoop-Up Competitor; Treasury Sells Out...of GM; OSI Systems Gets Rapi-Slammed
- Sysco (SYY) to Acquire US Foods in $3.5B Deal
- Texas Instruments (TXN) Updates Q4 Outlook; Narrows EPS, Revenue Guidance
Smithfield Foods, Inc. (NYSE: SFD) today announced that it has signed a non-binding letter of intent to form a 50/50 joint venture with Kansas City Sausage Company, LLC, including its sister company, Pine Ridge Farms, LLC. The transaction will be funded with cash on hand and is expected to close in the fourth quarter of fiscal 2013, subject to customary closing conditions, including regulatory approvals. Terms of the letter of intent were not disclosed. Smithfield expects the transaction to be immediately accretive to earnings.
You May Also Be Interested In
- ProfNet Experts Available on New Year's Resolutions, Nelson Mandela, More
- FBR Capital Starts Halliburton (HAL) at Market Perform
- FBR Capital Starts National-Oilwell Varco (NOV) at Outperform
Create E-mail Alert Related CategoriesCorporate News
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!