 991221 Smithfield Terminates Talks on Tyson's Pork GroupDecember 10, 1999 Smithfield, VA - Smithfield Foods, Inc., announced that the Company and Tyson Foods, Inc. were unable to reach a definitive agreement related to the purchase of Tyson's wholly-owned subsidiary, The Pork Group, Inc. Negotiations were mutually terminated because certain inherent operational characteristics of Tyson's Pork Group did not fit into the Company's expectations or long-term plans. DESCRIPTION OF COMPANY Smithfield Foods is the largest vertically integrated producer and marketer of fresh pork and processed meats in the United States. The Company's brands include Smithfield Lean Generation, Smithfield Premium, Gwaltney, John Morrell, Patrick Cudahy, Schneiders, Krakus, Lykes, Esskay, Kretschmar, Valleydale, Jamestown, Dinner Bell, Sunnyland, ReaLean, Patrick's Pride, Great, Tobin's First Prize, Peyton's, Rodeo, IQM, Curly's, Ember Farms and others. In addition, the Company has operating subsidiaries in Canada, France and Poland and participates in joint ventures in both Brazil and Mexico. The French subsidiaries produce and sell processed meats while the Canadian and Polish subsidiaries have slaughter operations and sell fresh pork, processed meat and other related food products. The joint ventures are involved in all aspects of the pork business including hog production and slaughter as well as the sale of fresh and processed meats.
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