Tuesday September 15, 03:51 PM
STOCKS NEWS US-Smithfield down after offering, director resigns
Stocks on the move
Real (Frankfurt: BJU.F - news) -time Equity news
U.S. stock market report
1029 ET 15Sept2009-Smithfield
down after offering, director resigns
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Smithfield Foods Inc said Paul Fribourg has quit as director as he
does not support the company's $250 million equity offering announced earlier.
On Monday, the company said it would offer $250 million worth of shares of
its common stock, the proceeds of which will go toward working capital and
strengthening its balance sheet.
For details, see
Shares of Smithfield fell 3.9 percent to $13.74.
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