Dark Caramel | Bigstock.com
WH Group plans to sell 20% of Smithfield Foods Inc. and has proposed an initial public offering (IPO) of Smithfield on the U.S. stock exchange.
WH Group proposes Smithfield spinoff, IPO
The move is expected to value Smithfield at no less than US$5.38 billion and aims to boost the company’s access to capital markets, unlock value and give it more deal-making flexibility.