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Smithfield Files Proxy Voting Papers over Shuanghui Merger

21 August 2013

US - Smithfield Foods is to send out papers to shareholders for a proxy vote on the merger agreement with Chinese pig meat processor Shuanghui.

The company has filed with the Securities and Exchange Commission the definitive proxy materials in connection with the merger agreement with Shuanghui International Holdings Limited.

The special meeting of Smithfield shareholders will be held on Tuesday, 24 September at McGuireWoods LLP in Richmond, Virginia.

All shareholders of Smithfield's common stock as of the close of business on 5 August, will be entitled to vote their shares at the meeting either in person or by proxy.

The Smithfield board of directors is unanimously recommending 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 $34.00 in cash.

The deal, 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 United States (CFIUS) and other customary closing conditions.

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