Maple Leaf Foods acquires Schneider

Date Closed: 4/05/2004

Value: $497 million

On April 5, 2004, Smithfield Foods, Inc. completed a previously announced sale of the Schneider Corp. to Maple Leaf Foods Inc. for approximately $497 million subject to closing adjustments, including the assumption by Maple Leaf of Schneider’s outstanding debt. A portion of Smithfield Foods’ interests in Schneider was held through Smithfield Canada Ltd. and, as a preliminary step in the sale of Schneider, Smithfield Foods purchased all of the outstanding exchangeable shares of Smithfield Canada.

In connection with its equity standby commitment to Maple Leaf, the Ontario Teachers’ Pension Plan Board was represented by Michael Padfield, senior legal counsel, investments, and Paul Findlay of BLG.