Morgan Stanley Airs Smithfield Stake To Avoid Conflict Trap

Law360, New York (July 3, 2013, 3:02 PM EDT) -- Morgan Stanley on Wednesday disclosed a 5.1 percent stake in Smithfield Foods Inc., getting out in front of any claims that it was conflicted in its role as a lender and financial adviser on the the pork producer's $7 billion sale to a Chinese buyer.

Morgan Stanley is advising Shuanghui International Holdings Ltd. on its acquisition of the U.S. pork producer and is providing some $3.1 billion in debt, according to public filings. Its stake in Smithfield could leave the bank vulnerable to litigation claims that...
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