Press release from Business Wire
Rigrodsky & Long, P.A. Announces Investigation Of Smithfield Foods, Inc. Buyout
<p> <i><b>Shuanghui International offers $34.00 per share to Smithfield Foods shareholders</b></i> </p>
Wednesday, May 29, 2013
Rigrodsky & Long, P.A. Announces Investigation Of Smithfield Foods, Inc. Buyout17:47 EDT Wednesday, May 29, 2013
WILMINGTON, Del. (Business Wire) -- Rigrodsky & Long, P.A.:
- Do you own shares of Smithfield Foods, Inc. (NYSE: SFD )?
- Did you purchase any of your shares prior to May 29, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Smithfield Foods, Inc. (“Smithfield” or the “Company”) (NYSE: SFD) regarding possible breaches of fiduciary duties and other violations of law related to the Company's entry into an agreement to be acquired by Shuanghui International Holdings Limited (“Shuanghui”) in a transaction valued at approximately $7.1 billion, including the assumption of Smithfield's net debt.
Click here to learn more: http://www.rigrodskylong.com/investigations/smithfield-foods-inc-sfd.
Under the terms of the agreement, public shareholders of Smithfield will receive $34.00 per share in cash for each share of Smithfield they own.
The investigation concerns whether Smithfield's board of directors failed to adequately shop the Company and obtain the best possible value for Smithfield's shareholders before entering into an agreement with Shuanghui. According to Yahoo! Finance, at least one analyst has set a price target for Smithfield stock at $48.00.
If you own the common stock of Smithfield and purchased your shares before May 29, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/smithfield-foods-inc-sfd.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.