Investors had been agitating for Smithfield (NYSE:SFD) management to “do something” to increase the value of their shares, and their wishes were answered in spades on Wednesday. The largest pork producer in the U.S. announced that it had accepted a bid to be acquired by China's Shanghui International in an all-cash deal that awards a pretty hefty multiple to this protein producer.
The Deal To Be...
If the deal goes through as announced, Smithfield investors will receive $34 in cash for each share they own. That works out to a 31% premium relative to Tuesday's close and just barely less than the all-time high for the stock.
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http://www.investopedia.com/stock-analysis/052913/smithfield-get-its-deal-surprising-bidder-sfd-tsn-yum-mcd-seb.aspx
Investopedia: Smithfield Gets Its Deal, But From A Surprising Bidder
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