02:52 PM EDT, 07/12/2024 (MT Newswires) -- Smithfield Foods is working with Goldman Sachs ( GS ) , Bank of America ( BAC ) , and Morgan Stanley ( MS ) to arrange a US initial public offering, Bloomberg reported Friday, citing people familiar with the matter.

The IPO may seek to raise at least $1 billion and could happen as soon as this year, the report said.

Smithfield Foods and the investment banks did not immediately respond to MT Newswires' requests for comment.

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