SMITHFIELD, Va., Sept. 16, 2013 (GLOBE NEWSWIRE) -- Smithfield Foods, Inc. (NYSE:SFD) (the "Company") today announced that it will notify holders (the "Notice") of its 6.625% senior notes due 2022 (the "Notes") that a "Change of Control", as defined in the indenture governing the Notes, is expected to occur upon the consummation of the proposed and previously announced acquisition (the "Acquisition") of the Company by Shuanghui International Holdings Limited. Pursuant to the terms of the Notes, following the consummation of the Acquisition, holders of the Notes will have the right to require the Company to purchase all or a portion of such holders' Notes at a price of 101% of the principal amount thereof, plus any accrued and unpaid interest up to, but not including, the date of purchase (the "Purchase Price"). The Company has today commenced the offer to purchase (the "Offer") the Notes for the Purchase Price in contemplation of, and conditioned on, the consummation of the Acquisition.
Smithfield Foods Announces Notice Of Change Of Control And Offer To Purchase Its 6.625% Senior Notes Due 2022
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