Daily Sound Bite: Smithfield Considers Split

Continental Grain Co., which holds a 5.8 percent stake in Smithfield Foods, sent a letter to Smithfield's board of directors, suggesting the company split itself into three separate business units. Smithfield shares rose Friday as the company announced its intention to review the recommendation.

Continental Grain Co., which holds a 5.8 percent stake in Smithfield Foods, sent a letter to Smithfield's board of directors, suggesting the company split itself into three separate business units. Smithfield shares rose Friday as the company announced its intention to review the recommendation. Continental's letter said in part,

"It's time for Smithfield to get serious about creating shareholder value."

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