NEWS
Smithfield Looking to Consolidate
Thu Jun 20, 2013 09:02 AM CDT

(Dow Jones) -- Smithfield Foods Inc. (SFD) bid unsuccessfully to acquire Canada's Maple Leaf Foods Inc. (MFI.T) this spring prior to agreeing to a takeover by China's largest meat processor, according to a person familiar with the matter, highlighting the meat industry's intensifying push to consolidate amid sluggish growth in North America.

Smithfield on Tuesday said in a filing with the U.S. Securities and Exchange Commission that it submitted an offer March 25 in connection with a "potential packaged meats acquisition," which was rejected "by the target on April 10." That target was Toronto-based packaged-foods company Maple Leaf, the person ...

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