Wednesday, July 2, 2008

The cattle-call of meat-sector deals continues (SFD)

Soaring feed costs have sparked a wave of cross-border dealmaking in the meat industry, which has riled some farmers and gotten the attention of federal lawmakers. The latest deals involve the world's largest pork producer, Smithfield Foods. As The Deal's Donna Block reported on Tuesday, to reduce its debt, Smithfield is selling nearly 5% of its stock to Cofco Ltd., China's largest national agricultural-trading and processing company. It has also agreed to sell its Groupe Smithfield Holdings to Spain's Campofrio Alimentacion SA...MORE