IBP, which owns a string of petrol stations, to the big public-sector Indian Oil Corporation.

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But when it comes to beef and uncured pork, giant processors like IBP have come up empty.

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That's a 19.8% premium on the closing price Friday of IBP common stock.

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The matter is now between the supplier, IBP of Dakota City, Nebraska, and the purchaser, Korea Cold Storage, USDA officials said.

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Beef processor IBP (nyse: IBP - news - people) says slowing sales of beef and tight supply conditions in livestock markets are hurting its sales.

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One telling ruling: A Delaware court earlier this year told Tyson Foods it had to proceed with its acquisition of IBP, despite a short-term decline in earnings at the beef-and-pork processor.

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