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Shuanghui’s $4.7 Billion Smithfield Swoop Faces Rivals

Shuanghui International Holdings Ltd.’s $4.7 billion bid for Smithfield Foods Inc., the world’s biggest hog producer, faces hurdles from regulators and rivals to what would be the largest Chinese acquisition of a U.S. company.

Under the terms of its deal, Smithfield has 30 days to continue talks with possible bidders Bangkok-based Charoen Pokphand Foods Pcl and Sao Paulo-based JBS SA, according to a person familiar with the matter who asked not to be named because the deliberations are private. The U.S. may also rule that Chinese ownership could be a security risk, Ken Goldman, a New York-based analyst for JPMorgan Chase & Co., said in a report yesterday.