JBS Said To Be Considering Smithfield Takeover, Increasing Pace Of Consolidation In Meat Sector

It has been reported in the local Brazilian press that meat processor JBS is interested in acquiring US pork giant Smithfield Foods. The suggestion sent shares in Smithfield surging by nearly 10% on June 29, but neither company has commented on the rumour. JBS acquired Smithfield's beef operations in 2008 and the rapid recent escalation in consolidation activity in the global meat sector would lend support to suggestions that JBS is looking to hoover up the rest of the firm.

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