DOJ request for Smithfield and PSF
Smithfield and Premium Standard Farms (PSF) both have received a request for additional information from the Antitrust Division of the US Department of Justice (DOJ).
The request comes after Smithfield’s announced acquisition of PSF, in September of this year. The DOJ action is usually referred to as the ‘second request’.
The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Intentions
The companies say they intend to respond carefully to the request and to work towards a prompt closing, which they are hopeful will occur in the beginning of next year. All in all the deal involves about $810 million.
Smithfield is the largest processor of pork in the US, PSF is the nation’s second largest pork producer and sixth largest pork processor.
Related websites:
• Smithfield Foods
Related items:
• PSF sees profits drop dramatically (3 Nov 2006)
• US Congress may hold hearings on Smithfield deal (12 Oct 2006)
• US farm groups worried about Smithfield deal (2 Oct 2006)
• Pork processor merger raises more questions (21 Sep 2006)
• Senator wants Smithfield deal review (20 Sep 2006)
• Smithfield swallows Premium Standard Farms (19 Sep 2006)
• US Congress may hold hearings on Smithfield deal (12 Oct 2006)
• US farm groups worried about Smithfield deal (2 Oct 2006)
• Pork processor merger raises more questions (21 Sep 2006)
• Senator wants Smithfield deal review (20 Sep 2006)
• Smithfield swallows Premium Standard Farms (19 Sep 2006)
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