| September 15,
2003, just-food.com: The fight for the now defunk
Farmland Industries just got interesting with US agribusiness
giant Cargill admitting thier interest with a US$385m
bid for the pork operations of bankrupt corporation.
Farmland is already entertaining one offer, 363.5m
from US pork producer Smithfield Foods. The addition
of another interested buyer will send the pork unit
to auction. Which means Smithfiend which made its orginal
offer in July will have to wait until mid-October for
a decision. The North Carolina based company said it
would review Cargill’s bid and consider how to
Cargill made the bid for Farmland Foods on Friday,
the last day bids could be submitted under bankruptcy
"We're pleased to have this additional bid and
look forward to a lively auction to bring more value
to our creditors," Farmland spokeswoman Sherlyn
Manson told Reuters.
Manson said that although an exact date has yet to
be set, the auction would happen before 13 October.