Smithfield Foods Acquires Premium Standard Farms
On September 18, 2006, Smithfield Foods announced that it would acquire Premium Standard Farms in a cash and stock deal that would total $810 million including the assumption of about $117 million in debt. The sale of PSF’s open stock still requires approval from the SEC as well as shareholder approval. Smithfield hoped to close the deal by the end of the first quarter in calendar year 2007.
ContiGroup Companies Inc supported the cash and stock buyout and voted its 38.8 percent stake in PSF in favor of the deal.
In May 2007, Smithfield completed the acquisition of Premium Standard Farms, converting shares into Smithfield stock at a rate of 0.678 Smithfield shares plus $1.25 in cash per PSF share.
Read more about this topic: Premium Standard Farms
Famous quotes containing the words foods, acquires, premium, standard and/or farms:
“There are many of us who cannot but feel dismal about the future of various cultures. Often it is hard not to agree that we are becoming culinary nitwits, dependent upon fast foods and mass kitchens and megavitamins for our basically rotten nourishment.”
—M.F.K. Fisher (1908–1992)
“The naive notion that a mother naturally acquires the complex skills of childrearing simply because she has given birth now seems as absurd to me as enrolling in a nine-month class in composition and imagining that at the end of the course you are now prepared to begin writing War and Peace.”
—Mary Kay Blakely (20th century)
“There is little premium in poetry in a world that thinks of Pound and Whitman as a weight and a sampler, not an Ezra, a Walt, a thing of beauty, a joy forever.”
—Anna Quindlen (b. 1952)
“There is a certain standard of grace and beauty which consists in a certain relation between our nature, such as it is, weak or strong, and the thing which pleases us. Whatever is formed according to this standard pleases us, be it house, song, discourse, verse, prose, woman, birds, rivers, trees, room, dress, and so on. Whatever is not made according to this standard displeases those who have good taste.”
—Blaise Pascal (1623–1662)
“Look. And the dancers move
On the departed, snow bushed green, wanton in moon light
As a dust of pigeons. Exulting, the grave hooved
Horses, centaur dead, turn and tread the drenched white
Paddocks in the farms of birds. The dead oak walks for love.”
—Dylan Thomas (1914–1953)