FARM BUSINESS NEWS
Smithfield Shareholders OK Deal
Wed Sep 25, 2013 05:23 PM CDT

(Dow Jones) -- Smithfield Foods Inc. shareholders have approved the pork processor's $4.7 billion acquisition by Shuanghui International Holdings Ltd., the biggest purchase of a U.S. company ever by a Chinese firm.

At a special Smithfield shareholder meeting Tuesday, more than 96% of votes cast were in favor of the deal, representing about 76% of the company's total shares outstanding as of the record date for the special meeting. The deal is expected to be completed by Thursday.

"We are pleased with the outcome of today's vote and thank all of our shareholders for their support," said Chief Executive C. ...

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