National Beef, one of the largest beef processors in the country, announced terms for its IPO on Wednesday; if it moves forward within the next few weeks, it will be the 10th company scheduled to price this December. The Kansas City, MO-based company plans to raise $276 million by offering 17.3 million class A shares at a price range of $15.00 to $17.00. At the mid-point of the proposed range, National Beef will command a market value of $979 million. Net proceeds from the deal will be used to acquire units of National Beef Packing Company LLC, in which a minority interest will represent the company's sole asset. The company, which was founded in 1992 and booked $5.7 billion in sales over the last 12 months, plans to list on the NYSE under the symbol NBP. BofA Merrill Lynch and Credit Suisse are the lead underwriters on the deal, for which timing was not disclosed.
