Feb 15 (Reuters) - Smithfield Foods Inc:
* To form joint venture with Kansas City sausage company
* Says signed a non-binding letter of intent to form a 50/50 joint venture with
Kansas City sausage company, llc
* Says expects the transaction to be immediately accretive to earnings
* Says transaction will be funded with cash on hand and is expected to close in
the fourth quarter of fiscal 2013
* Says terms of the letter of intent were not disclosed
* Source text
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