Investment fund Starboard Value LP, one of majority shareholders of the largest US pork producer Smithfield Foods (SFD), planned to vote against the merger between SFD and Shuanghui International Holding, said foreign sources.
Starboard will hold a shareholders' meeting in Richmond on September 24 to vote on the merger with Shuanghui.
in a letter to SFD's shareholders, Starboard hoped to have more time to seek to provide other more-valued programs to the shareholders. Starboard, holding a 5.7% stake in SFD, earlier hoped SFD to conduct assets spin-off rather than the original plan to be acquired by Shuanghui.
Source:
http://www.sinocast.com/readbeatarticle.do?id=99014
