News Breaks |
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| September 4, 2012 |
| 06:02 EDT |  | SFD | Smithfield Foods reports Q1 EPS 40c, consensus 44c
Reports Q1 revenue $3.09B, consensus $3.15B |
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News For SFD From The Last 14 Days Check below for free stories on SFD the last two weeks. |
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| June 20, 2013 |
| 06:03 EDT |  | SFD | Stocks with implied volatility below IV index mean; TIVO SFD
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| June 19, 2013 |
| 18:43 EDT |  | SFD | Smithfield Foods unsuccessfully bid for Maple Leaf Foods, WSJ says
Smithfield Foods launched an unsuccessful bid for Maple Leaf Foods this spring prior to being taken over by Shuanghui late last month, reports The Wall Street Journal, citing a person familiar with the matter. Reference Link |
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| 06:01 EDT | | SFD | Stocks with implied volatility below IV index mean; TIVO SFD
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| June 18, 2013 |
| 11:47 EDT |  | SFD | Hormel Foods falls after lowering profit outlook
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| 06:04 EDT | | SFD | Stocks with implied volatility below IV index mean; TIVO SFD
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| June 17, 2013 |
| 17:37 EDT | | SFD | Smithfield Foods to review Starboard letter, WSJ says
In a statement Monday, Smithfield Foods said it will review the Starboard letter that encourages a breakup instead of the planned takeover by Shuanghui International Holdings, says the Wall Street Journal. Smithfield said it continues to believe the proposed merger is in the best interests of the company and its shareholders, added the Wall Street Journal. Reference Link |
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| 12:29 EDT |  | SFD | On The Fly: Midday Wrap
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| 09:18 EDT | | SFD | Starboard says Smithfield could be worth $44-$55 if sold in parts
Starboard Value disclosed a 5.7% stake in Smithfield Foods and said it delivered a letter to the company's board. Starboard noted that its research indicated that the sum-of-the parts value of the Smithfield's operating divisions, which include Hog Production, International, and Pork, was well in excess of the then-current trading price of the company and that a separation of these businesses "was entirely feasible and could be accomplished without significant tax leakage." Starboard also expressed its belief that there are several likely strategic acquirers for each of the divisions. Starboard stated that it believes the proposed merger with Shuanghui "goes a long way towards closing the gap between the pre-deal market value of the Issuer and the intrinsic value of the business," yet the investor believes the merger "still significantly understates a conservative sum-of-the-parts valuation of the Issuer, which Starboard estimates to be worth between $9 billion and $10.8 billion after tax, or approximately $44 to $55 per share." Starboard told the board that Smithfield could be worth well in excess of the $34.00 per share Shuanghui is paying if it fully shopped its operating divisions to all potentially interested parties. |
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| 09:12 EDT | | SFD | Starboard confirms 5.7% Smithfield stake, estimates $44-$55 share value
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| 08:43 EDT | | SFD | Starboard says talking to interested buyers of Smithfield units
Starboard Value CEO Jeffrey Smith is speaking on CNBC. The fund owns a 5.7% stake in Smithfield Foods. |
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| 08:41 EDT | | SFD | Starboard says parties interested in parts of Smithfield Foods
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| 08:29 EDT | | SFD | Pilgrim's Pride volatility increases on Smithfield Food sale to Shuanghui
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| 07:38 EDT | | SFD | Smithfield Foods volatility low into Starboard Value wants company breakup
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| 07:10 EDT | | SFD | Smithfield Foods investor Starboard Value wants company breakup, WSJ reports
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| 07:04 EDT | | SFD | Smithfield Foods sends letter to Smithfield board expressing views on valuation
Starboard Value delivered a letter to the board of Smithfield: "We fully understand that under the Merger Agreement, Smithfield is contractually prohibited from seeking superior offers for the Company or from contacting third parties who may be interested in acquiring certain of the Company's operating divisions. In light of this limitation, Starboard is seeking to identify and connect any strategic or financial buyers for the Company's individual business units to determine if it would be possible to structure a sum-of-the-parts transaction that could deliver greater value for shareholders than the Proposed Merger. We hope that our efforts will lead to the submission of a Superior Proposal under the terms of the Merger Agreement... We believe the Proposed Merger goes a long way towards closing the gap between the pre-deal market value of Smithfield and the intrinsic value of the business. However, we believe the Proposed Merger still significantly understates a conservative sum-of-the-parts valuation of the Company, which we estimate to be worth between $9 billion and $10.8 billion after tax, or approximately $44 to $55 per share, representing an approximate 29%-62% premium to the $34 per share Shuanghui deal." |
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| 06:14 EDT | | SFD | On the Fly: Periodicals Wrap-Up
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| 05:54 EDT | | SFD | Stocks with implied volatility below IV index mean; MBI SFD
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| 05:51 EDT | | SFD | Stocks with implied volatility movement; SFD AGNC
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| June 14, 2013 |
| 11:29 EDT |  | SFD | Smithfield Foods downgraded to Neutral from Buy at DA Davidson
DA Davidson downgraded Smithfield citing the acquisition by Shuanghui International for $34 per share. |
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| 08:38 EDT | | SFD | Smithfield Foods to discontinue conference calls
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