Swift said it is considering a buy-out offer.

The nation’s largest pork packer, Swift Independent Corp., said the buy-out offer is from a partnership led by a Texas investor group. The proposed cash and preferred stock transaction will be presented to Swift’s board of directors at meetings later this week, company spokesman Bill Dillman said. The proposal comes from a partnership composed primarily of trusts of the Edwin L. Cox Jr. family of Dallas. It calls for each share of Swift to be converted into $21 in cash and $7 face value in 15% cumulative exchangeable preferred stock, Dillman said.