Boston, MA 05/30/2013 (wallstreetpr) – Smithfield Foods Inc. (NYSE:SFD), involved in the production and marketing of fresh meat and packaged meat products had increased in the share prices for the last trading session. The shares of the company had been trading in the range of $32.25 to $33.96 per share during the day before closing at $33.35 per share for the end of last trading session. This was observed to be an increase of 28.42 percent over the previous day’s closing price of Smithfield Foods Inc. (NYSE:SFD).
The company provides fresh and packaged meat products at the domestic and international markets and operates through its subsidiaries. Smithfield Foods Inc. (NYSE:SFD) operates its business in four major segments namely Pork, Hog Production, International and Corporate. Each segment of the company further consists of number of subsidiaries, joint ventures and other investments.
Acquisition Deal
The recent increase in share prices of Smithfield Foods Inc. (NYSE:SFD) had led the meat products company to record new 52 week high price level at $33.96 per share and the 52 week low price level of the company is at $17.55 per share. China’s biggest producer of pork and related products, Shuanghui International Holdings Ltd. had announced its agreement to acquire Smithfield Foods Inc. (NYSE:SFD) for $4.72 billion.
This acquisition deal priced at $34 per share of Smithfield Foods Inc. (NYSE:SFD) would enable to boost the supplies of meat to the country. The offer price for acquisition was observed to be 31 percent higher than the closing price of the meat producing company on Tuesday.
