U.S. clears China's Shuanghui to acquire Smithfield Foods

U.S. officials have blessed the acquisition of Smithfield Foods by China's Shuanghui International, the companies announced Friday.

The deal is still subject to approval from Smithfield (SFD, Fortune 500) shareholders, who are scheduled to vote on it Sept. 24. If approved, it would be the largest acquisition of a U.S. company by a Chinese buyer.

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