Senators Decry Pork Producer Buyout

Law360, New York (September 25, 2006, 12:00 AM EDT) -- A bid by pork producer Smithfield Foods Inc. to buy out its top rival has stirred the ire of Midwest senators and a coalition of farmers who say the proposed $810 million deal would adversely impact independent farmers and consumers.

The U.S. Department of Justice’s Antitrust Division is eyeing Smithfield, the world's largest hog farmer and pork processor, for its planned $810 million acquisition of Premium Standard Farms Inc., the nation's sixth-largest pork processor.

The buyout would give Smithfield nearly 30% of the nation’s hog-slaughtering capacity...
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