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Smithfield May Buy $700M Campofrio Stake

Virginia-based Smithfield Foods is in talks to acquire a stake in meat producer, Campofrio Food Group.

Virginia-based Smithfield Foods is in talks to acquire a stake in meat producer, Campofrio Food Group, The Wall Street Journal reports. The company may offer a bid of $13.59 totaling about $700 million, for the 50% stake.

Smithfield Foods is already a major shareholder in the Spanish company with a 37% stake. Smithfield is planning to partly fund the takeover from existing liquidity and capital-markets financings.

Click here for the story from The Wall Street Journal.

Click here for the additional coverage from Reuters.

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