Paul Hastings has advised Shuanghui International Holdings Ltd. on securing $4 billion in financing for its proposed acquisition of U.S. meat producer Smithfield Foods.
Shuanghui, China’s largest meat processor, has offered $7.1 billion for Richmond, Va.-based Smithfield. The deal is expected to close in the second half of this year, though a potential obstacle has recently emerged in New York hedge fund and Smithfield shareholder Starboard Value, which says it is attempting to arrange a competing offer to Shuanghui’s.
