Smithfield shareholders approve sale to China's Shuanghui
Sept 24 (Reuters) - Smithfield Foods Inc shareholders on Tuesday "overwhelmingly" approved the pork packer's $4.7 billion sale to Shuanghui International Holdings Ltd in what is shaping up to be the biggest acquisition yet of a U.S. company by a Chinese one.
More than 96 percent of the votes cast at a special shareholder meeting were voted in favor of the transaction. The votes cast represent approximately 76 percent of Smithfield's total outstanding common shares as of the record date of the meeting, Smithfield said in a statement.
The deal, valued at $7.1 billion including debt, is expected to close by Sept. 26.
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