News and analysis on the global poultry
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on September 22, 2009

Smithfield offers common stock at $13.85 per share

Proceeds to go toward capital, debt

Smithfield Foods has priced its underwritten registered public offering of common stock at $13.85 per share. There are 21,660,649 shares being offered.

With an eye to strengthen its balance sheet, the company plans to use net proceeds for working capital and possible debt retirement.

A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.

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