US pork processor Premium Standard Farms (PSF) has announced that its common stockholders have approved an acquisition agreement with Smithfield Foods. More than 85% of PSF shareholders voted in favour of the deal.
Under terms of the agreement, PSF will become a wholly owned subsidiary of Smithfield.
The transaction is still subject to government approvals and other closing conditions.
The acquisition plans were made public nearly six months ago.
â€¢ Premium Standard Farms
â€¢ Smithfield Foods
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