Leading U.S. pork producer Smithfield Foods Inc (SFD.N) confirmed it is in talks to acquire a majority stake in European meat producer Campofrio Food Group SA (CPF.MC) for 500 million euros ($715 million). Smithfield shares were down 3 percent at $23.30 in midday trading following its confirmation of the bid, which it will make jointly with Campofrio chairman Pedro Ballve. The move would increase Smithfield presence in Europe and raise its share of Campofrio to nearly 88 percent from 37 percent.
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