Paul Hastings Brings Home Bacon In Aiding $7B Smithfield Buy

Law360, New York (May 29, 2013, 6:05 PM EDT) -- Chinese meat producer Shuanghui International Holdings Ltd. on Wednesday announced it would buy Smithfield Foods Inc. for about $7.1 billion including debt, in what would be the largest takeover ever of a U.S. company by a Chinese buyer.

Smithfield shareholders will receive $34 per share, a 28 percent premium to Monday's closing price. The $4.7 billion equity piece makes it the largest Chinese investment ever into any U.S. company and more than 40 times bigger than the only other Chinese takeover of a U.S. public company,...
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