April 3, 2007

Smithfield, PSF deal stalled
 

Smithfield Foods announced on March 30 that the Justice Department's Antitrust Division has exercised its option to extend HSR review of the Smithfield's plan to acquire Premium Standard Farms by another 30 days.

Both parties had agreed to give the Antitrust Division 60 days from substantial compliance with the Antitrust Division's Request for Additional Information ("Second Request") and an additional 30 days thereafter for review at the option of the Antitrust Division.

The additional 30-day period expires on 7 May.

The parties certified substantial compliance with the Second Request on 5 February 2007.