Meatpacker SwiftSold for $225 Mil.
Tribune Co. PromotesSouth Fla. Publisher
Claire's Stores'Purchase Completed
Suit Against PepsiCoAllowed to Proceed
U.S. to Fight AgainstTotal Mad Cow Testing

Meatpacker SwiftSold for $225 Mil.

In a union of two large meat-processing companies, a Brazilian firm announced Tuesday it will acquire Swift & Co. in a $225 million cash deal that will give the combined company greater access to expanding markets and operations on three continents. J&F Participacoes S.A., which controls Brazil's leading beef exporter Friboi, won out over other bidders for Swift, which was highly sought after because not many meat-packaging plants are put up for sale in wake of U.S. industry consolidation, analysts said. Swift, headquartered in Greeley, Colo., is the third-largest U.S. processor of beef and pork and has plants in six states and an operation in Australia.

Tribune Co. PromotesSouth Fla. Publisher

Tribune Co. promoted the publisher of its South Florida Sun-Sentinel on Tuesday after 10 years, replacing him with a longtime circulation and operations manager. Howard Greenberg is the new publisher, replacing Robert Gremillion, who was promoted to executive vice president of Tribune Publishing, a division of Chicago-based Tribune Co. Gremillion will oversee the Orlando Sentinel, The (Baltimore) Sun, The Hartford Courant and the Sun-Sentinel. He will report directly to Chairman and chief executive Dennis FitzSimons.

Claire's Stores'Purchase Completed

Jewelry retailer Claire's Stores Inc. said Tuesday it closed the deal to be purchased by private equity firm Apollo Management LP for about $3.1 billion. Under terms of the buyout, Pembroke Pines-based Claire's Stores shareholders will receive $33 in cash per share of common and Class A common stock without interest. Claire's shares closed up 5 cents to $32.98.

Suit Against PepsiCoAllowed to Proceed

A lawsuit that alleges soft-drink manufacturers, including PepsiCo, are selling drinks made with ingredients that can form cancer-causing benzene can go move forward, a Kansas federal court has ruled. In the suit - one of five in states throughout the country - plaintiffs are asking soft-drink makers to remove the drinks from store shelves, reformulate their products, and offer refunds.



U.S. to Fight AgainstTotal Mad Cow Testing

The Bush administration said Tuesday it will fight to keep meatpackers from testing all their animals for mad cow disease. The Agriculture Department tests less than 1 percent of slaughtered cows for the disease, which can be fatal to humans who eat tainted beef. But Kansas-based Creekstone Farms Premium Beef wants to test all of its cows. Larger meat companies feared that move because, if Creekstone tested its meat and advertised it as safe, they might have to perform the expensive test, too.