$7.1B Smithfield Deal Gets Backing Of Top Proxy Adviser

Law360, New York (September 12, 2013, 12:52 PM EDT) -- A noted independent proxy adviser recommended that shareholders in Smithfield Foods Inc. throw their weight behind a proposed $7.1 billion buyout of the pork producer by a Chinese company that has drawn scrutiny from U.S. officials, Smithfield said Thursday.

The approval from Institutional Shareholder Services Inc. — widely considered the top proxy advisory firm — adds to the deal's momentum less than a week after the U.S. government signed off on its terms, squelching lawmakers' concerns that putting America's largest hog farmer under the ownership of...
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