$7B Smithfield Sale Gets Antitrust Regs' OK, CFIUS Still Looms

Law360, New York (July 15, 2013, 7:53 PM EDT) -- Smithfield Foods Inc. has received the implicit approval of U.S. antitrust regulators to sell itself to a Chinese pork producer for more than $7 billion, the company said Monday, but its biggest regulatory hurdle — the Committee on Foreign Investment in the U.S. — remains.

The hog farmer, America's biggest, said that the Hart-Scott-Rodino waiting period had expired without a second request from U.S. regulators. That means the deal, which would see Shuanghui International Holdings Ltd. pay about $7.1 billion including debt for Virginia-based Smithfield, has...
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