Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, April 6, 2011

Smithfield Foods seeks majority stake in Campofrio, (NYSE: SFD), (CPF)

Leading U.S. pork producer Smithfield Foods Inc (SFD.N) said it was in talks to acquire a majority stake in European meat producer Campofrio Food Group SA (CPF.MC) for 500 million euros ($715 million). The move would increase Smithfield's presence in Europe. (1 euro = $1.43) (Reporting by Bob Burgdorfer; Editing by Lisa Von Ahn)

Source