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Smithfield Foods to Consider Shareholder's Advice to Split

Smithfield Foods (NYSE:SFD) shareholder Continental Grain Co. sent a letter to the pork company's board on Thursday to urge a breakup of the company.In its letter, Continental said the pork producer, which is valued at about $3.42 billion, should consider whether splitting into three separate companies will increase value for shareholders. It added that Smithfield's board should hire an independent investment bank to help analyze potential strategic changes.The letter, which also suggested a regular cash dividend, was included in a SEC filing."While we have reduced our position, we continue to hold an important stake and are prepared to maintain a significant holding if we see the board and management taking the necessary steps to unlock the value we believe exists in this company," Continental said in its letter.Smithfield acknowledged in a statement Friday morning that it received the letter and said it "will review it in due course."Continental and several related shareholders own a...

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  1. Shareholder urges Smithfield Foods to consider split

    Continental Grain Co, one of the biggest shareholders of Smithfield Foods Inc , has sent a letter to the board urging it to consider splitting the leading U.S. hog p...

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  3. Smithfield's Net Rises on Packaged Meat Sales

    Smithfield Foods Inc.'s (NYSE:SFD) fiscal third-quarter earnings rose 3.2% as improved sales of packaged meats helped to mitigate the pork producer's declining fresh...

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