(Bloomberg) -- Maple Leaf Foods, one of Canada’s largest food companies, is spinning off its pork division in a push to expand growth opportunities while...
-- Maple Leaf Foods , one of Canada’s largest food companies, is spinning off its pork division in a push to expand growth opportunities while reducing exposure to volatile commodity markets .Asia’s Richest Banker Gets Caught in Adani-Hindenburg Crossfire
Shares of Maple Leaf Foods rose as much as 4.7% on the Toronto Stock Exchange, giving the company a market value of about C$2.9 billion . The pork company will be led by Dennis Organ, president of Maple Leaf’s pork complex and a former Smithfield Foods Inc. executive. The new pork company would have had C$1.65 billion in annual sales compared to C$3.55 billion for the remaining Maple Leaf Foods operations after a split, according to preliminary estimates for the 12 months ended March 31.
"Fake it till you make it may work in Silicon Valley, but for the rest of us, I think once bitten twice shy may be more appropriate for AI," MacroStrategy Parternship's Ferguson told Bloomberg.The iShares S&P/TSX Capped Energy Index ETF, a basket of Canadian large-cap oil and gas companies, has climbed about 17% year-to-date, outperforming the broader Canadian market.
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Maple Leaf Foods to spin off pork business into new public companyMaple Leaf Foods Inc. announced plans Tuesday to spin off its pork business into a new publicly traded company.
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