August 26, 2013

 

Smithfield Foods, Inc. has filed with the Securities and Exchange Commission (SEC) and will mail to shareholders of record the definitive proxy materials in connection with the previously announced definitive merger agreement with Shuanghui International Holdings Limited.

The special meeting of Smithfield shareholders will be held on Tuesday, September 24, 2013, at 9:00 a.m. Eastern Time at McGuireWoods LLP at One James Center, 901 East Cary Street, Richmond, Virginia. All shareholders of record of Smithfield's common stock as of the close of business on August 5, 2013, will be entitled to vote their shares at the meeting either in person or by proxy.

The Smithfield board of directors unanimously recommends that Smithfield shareholders vote "FOR" the proposal to approve the merger agreement. Under the terms of the agreement, each outstanding share of Smithfield common stock would be converted into the right to receive US$34.00 in cash.

The transaction, which is expected to close in the second half of 2013, remains subject to certain conditions, including, among others, approval by Smithfield's shareholders, the receipt of approval under certain specified foreign merger clearance laws, review by the Committee on Foreign Investment in the US (CFIUS) and other customary closing conditions.

Smithfield Foods is a US$13 billion global food company and the world's largest pork processor and hog producer. It is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental, and food safety and quality programmes.