Stocks Making Large Moves (SFD, BIG, WY, KNDI)
June 17, 2013 at 16:19 PM EDT
New York, NY -- (SBWIRE) -- 06/17/2013 -- Smithfield Foods Inc. (NYSE:SFD), the world’s largest hog and pork producer, rallied 0.9 percent to $33.08 after large shareholder Starboard Value LP urged the company to break up instead of going forward with a proposed merger. Starboard, which has taken a 5.7 percent stake in the company, believes a broken-up Smithfield could be worth $44 to $55 per share, compared with the $34-per-share price offered by Shuanghui International Holdings, the New York-based investment adviser told the board of the Smithfield, Virginia-based company in a letter released on Monday.