One of the U.S. pork producer's largest shareholders, New York investment firm Starboard Value, said it plans to vote against the proposed takeover by China's Shuanghui Int'l. The proposed $4.7 bil deal, which would be the largest acquisition ever of a U.S. company by a Chinese firm, is slated for a shareholder vote Sept. 24. Starboard, which owns about 5.7% of Smithfield Foods' (SFD) stock, said it wants more time to look for counter-offers. Shares rose 0.5% to 33.68.
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- Smithfield Foods