The Firm is representing Smithfield Foods (NYSE: SFD) in connection with its definitive merger agreement with Shuanghui International Holdings Limited. Under the terms of the deal, Smithfield shareholders will receive US$34.00 per share in cash, which values Smithfield at US$7.1 billion, including the assumption of Smithfield’s net debt. The transaction, which is expected to close in the second half of 2013, is subject to shareholder approval and other customary closing conditions.
Smithfield Foods is a global food company and the world’s largest pork processor and hog producer. Shuanghui is the majority shareholder of Henan Shuanghui Investment & Development Co. (SZSE:000895), which is China’s largest meat processing enterprise and China’s largest publicly traded meat products company as measured by market capitalization.
The Simpson Thacher team includes Robert Spatt, Patrick Naughton, Shaolin Luo, Jakob Rendtorff and Jay W. Baviskar (M&A), Alden Millard and Brian Korchin (Credit), Leiming Chen (Capital Markets), Kevin Arquit, Peter Thomas, Jayma Meyer, Michael C. Naughton, Paul Sirkis and William L. Kearney (Regulatory), Andrea Wahlquist and Eric Wolf (Executive Compensation and Employee Benefits), Gary Mandel and Seojung Park (Tax), Mike Isby (Environmental), and Lori Lesser and Rachel A. Farnsworth (IP).
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