Source:  Tom Johnston, MEATINGPLACE.COM, 9/23/09

Smithfield Foods Inc. said Tuesday the company closed its previously announced public offering of 21,660,649 shares of its common stock at $13.85 per share.

The company also granted the underwriters a 30-day option to buy up to an additional 3,249,097 shares of common stock to cover potential over-allotments. Morgan Stanley, Goldman, Sachs & Co., Barclays Capital, and J.P. Morgan are the joint bookrunning managers of the offering.

Smithfield said it will use the net proceeds for working capital and general corporate purposes, including the retirement of debt.

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