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Hedge Fund to Oppose Buyout of Smithfield Foods

InvestorPlace – A Chinese company’s plans to purchase the largest U.S. pork producer has hit a roadblock.

On Tuesday, one of Smithfield Foods‘ largest shareholders warned its board of directors that it planned to vote against its proposed merger with Shuanghui International Holdings Ltd. Starboard Value LP sent a letter to the company’s board indicating that it wanted additional time to seek higher offers for the company, the Associated Press notes.

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