The Associated Press reports that former chief financial officer of Sadia SA, a Brazilian chicken and pork producer, and a former employee of Brazil''s Banco ABN AMRO Real SA have agreed to pay almost half a million dollars combined to settle charges that they traded on inside information about the meat company''s 2006 attempt to take over its largest local rival, Perdigao SA. The Securities and Exchange Commission recently announced the settlement with Luiz Gonzaga Murat Junior, the former chief financial officer at Sadia, and Alexandre Ponzio De Azevedo, the former banker. The two settled without admitting or denying wrong-doing. Murat agreed to give up $184,028 and to pay a $180,404 civil penalty. He also agreed to a five-year ban on serving as an officer or director of a public company. Azevedo agreed to give up $68,215 and to pay a $67,165 civil penalty. He accepted a ban of at least three years on working for a brokerage firm or a securities dealer, the SEC said. The SEC accused Murat of buying Perdigao securities that are listed in the United States after an April 7, 2006, meeting with investment bankers who proposed that Sadia make an offer for Perdigao. Murat''s holdings rose in value after Sadia announced its offer on July 2006, when the price of Perdigao''s American depositary shares rose 21 percent to $24.50, the SEC said. The SEC said that Azevedo learned of the possible offer on April 11, 2006, when he was assigned to the ABN AMRO tender offer financing team. He then bought 14,000 American depositary shares in June, and sold 10,500 of the securities shortly after Sadia announced its offer, the SEC said. Sadia withdrew its hostile bid to take over Perdigao days after announcing its offer. Pension funds and investors holding 55 percent of Perdigao''s voting stock chose not to accept a second offer. The settlement agreements still face court approval.