Big shareholder urges Smithfield breakup over buyout

World News: . []

A sign advertising Smithfield hams hangs at the Taste of Smithfield restaurant and gourmet market in Smithfield, Virginia(Reuters) - Starboard Value LP, a large shareholder in Smithfield Foods Inc , urged the world's largest pork producer to explore a breakup rather than go ahead with a planned $4.7 billion takeover by Chinese meat company Shuanghui International. The activist shareholder, which disclosed a 5.7 percent stake in the company on Monday, said Smithfield might be worth "well in excess" of the $34 per share offered by Shuanghui if it split into hog production, pork and international units and shopped the businesses separately. ...


Read More: http://news.yahoo.com/shareholder-urges-breakup-smithfield-not-takeover-113443661.html

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