Smithfield Foods Shareholders Vote to Sell to Shuanghui Investment

It’s official: Smithfield Foods shareholders today approved selling the company to Shuanghui International, a global investment consortium that already owns a major share in Chinese meat processing giant Henan Shuanghui Investment & Development Co.

At a special meeting of Smithfield shareholders held today, more than 96 percent of the votes cast were voted in favor of the transaction, which represents approximately 76 percent of Smithfield's total outstanding shares of common stock as of the record date for the special meeting.