Smithfield Foods Announces Tender Offer Results

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SMITHFIELD, Va. (AP) — Smithfield Foods Inc. said Thursday that about $318.4 million of outstanding senior unsecured notes due 2011 were tendered in its tender offer.

This makes up approximately 80 percent of the up to $337 million notes the world's biggest pork processor and hog producer previously said it was willing to buy.

Smithfield already purchased about $263.8 million of the notes last month that were tendered before the offer's early tender date.

The company said it will buy about $54.6 million of the remaining notes tendered but not previously purchased.
The tender offer expired on Wednesday.

Shares of Smithfield Foods, based in Smithfield, Va., added 6 cents to $17.84 in morning trading.

Copyright 2010 The Associated Press.

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