US Congress may hold hearings on Smithfield deal

12-10-2006 | |

Republican senator Mike DeWine (Ohio) plans to hold hearings concerning the announced purchase of Premium Standard Farms (PSF) by Smithfield Foods.

The deal, worth $810 million, has also attracted attention at the US Department of Justice (DOJ). Currently, the department is examining the purchase’s impact on pig prices and pork producers.
The DOJ is worried that the deal will create a dominant buyer in the pork market, harming small farms.
Earlier, Iowa senators and US farm organisations expressed their worries about the announced purchase.
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