The US Department of Justice will take 30 more days to review the proposed acquisition of Premium Standard Farms by Smithfield Foods.
In September last year, the companies announced that Smithfield Foods (Virginia), would buy Premium Standard Farms (Kansas) in a transaction valued at $810 million.
However, in a release by the end of last week, the Justice Department’s Antitrust Division announced to take an additional 30 days to review the proposed transaction. The review period now ends on May 7.
With annual sales of $11 billion, Smithfield is the leading processor and marketer of fresh pork and processed meats, and the largest producer of hogs, in the United States.