Brazil food companies Marfrig and BRF to merge, says source
SAO PAULO, May 15 (Reuters) - Brazilian food companies Marfrig (MRFG3.SA), opens new tab and BRF (BRFS3.SA), opens new tab are expected to announce a merger involving a share swap this evening, a source briefed on the matter told Reuters on condition of anonymity because the deal has not been made public yet.
The companies are eyeing annual synergies over 800 million real ($140.80 million) from their tie-up. The name of the new company created by Marfrig and BRF will be MBRF, the person said.
($1 = 5.6817 reais)
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