Smithfield says would consider buying Oscar Mayer

Smithfield says would consider buying Oscar Mayer

Reuters

RICHMOND, VIRGINIA (Reuters) – U.S. meat company Smithfield Foods Inc. (SFD.N: Quote, Profile, Research) would be interested in the Oscar Mayer meat unit of Kraft Foods Inc. if it became available, but the price may be too high, a top Smithfield executive told Reuters on Wednesday.

Talk has circulated that Altria Group Inc. (MO.N: Quote, Profile, Research) may soon spin off Kraft (KFT.N: Quote, Profile, Research) of which it is majority stockholder.

“Oscar Mayer is the only piece of that that we would have any interest in at all,” said Smithfield president and soon- to-be chief executive officer C. Larry Pope. “That’s probably going to go at a price we are not going to like.”

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