By Karlee Weinmann (September 18, 2013, 3:53 PM EDT) -- Chinese meat processor Shuanghui International Holdings Ltd. is close to meeting the required threshold for shareholder approval to seal its controversial $7.1 billion purchase of Smithfield Foods Inc., sources told Reuters late on Tuesday. The shareholder vote, set for next week, could be the ending chapter in the saga, which has included vocal opposition from U.S. lawmakers worried about threats to national security and product safety as well as Smithfield investors. Shuanghui's proposal needs the support of the holders of more than half of Smithfield's shares. New York hedge fund Starboard Value LP has said it could find buyers willing to cough up more for Smithfield, the world's largest pork producer, and is expected to make an announcement related to the buyout later this week....
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