Smithfield Foods, Premium Standard agree to Antitrust Division merger review timeline

By Lisa Kerner

Charlotte, N.C., Feb. 5 - Merger partners Smithfield Foods, Inc. and Premium Standard Farms, Inc. both claim certified substantial compliance with the U.S. Department of Justice's Antitrust Division's request for additional information.

The companies have given the Antitrust Division 60 days from "substantial compliance" to review the transaction, plus an additional 30 days for a review if necessary, according to a company news release.

Premium Standard's shareholders are expected to vote on the merger on Feb. 23. The acquisition is slated to close in the first calendar quarter of 2007.

Smithfield is a pork processor and marketer located in Smithfield, Va.

Premium Standard is a vertically integrated provider of pork products based in Kansas City, Mo.

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