UPDATE 2-BRF and Marfrig's tie-up talks draw doubts on timing, savings [Reuters]
MARFRIG GLBL FOODS S/ADR (MRRTY)
NASDAQ:AMEX Investor Relations:
ir.marfrig.com.br/en
Company Research
Source: Reuters
BRF and Marfrig's tie-up talks draw doubts on timing, savings - Reuters 3 Min Read SAO PAULO (Reuters) - Investors and analysts on Friday questioned Brazilian meatpacker BRF SA’s move to take over local beef producer Marfrig Global Foods SA, raising doubts about the timing of talks and the potential for cost savings. Shares of BRF, the world’s biggest chicken exporter, tumbled 5% as analysts suggested that a potential share swap with Marfrig, announced on Thursday, offered little room to cut fat. “We would not expect a high degree of synergy from this combination,” wrote Santander analysts. “The bulk of their operations are not overlapping.” BRF and Marfrig declined to comment beyond the securities filings they released on Thursday. A person familiar with the talks said the complementary geography and portfolios of the companies had inspired them to form a global meatpacking giant that could go toe-to-toe with Brazilian rival JBS SA. Marfrig, based in Sao Paulo, has a strong U.S. pres
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