How Simpson Thacher and Paul Hastings brought home the bacon on $7.1bn Smithfield takeover
The acquisition of American pork producer Smithfield Foods by Hong Kong-based meat manufacturer Shuanghui International Holdings came at a good time for Hong Kong's corporate lawyers. Last year's $7.1bn (£4.2bn) deal was the largest ever takeover of a US business by a Chinese company and was announced just as a host of law firms were focusing their energies on Chinese outbound investment. When it came to choosing their advisers, it was no surprise that both Shuanghui and Smithfield picked US firms with which they had long-term relationships. Wall Street firm Simpson Thacher & Bartlett was appointed lead counsel on the US side, having advised Smithfield since the turn of the century, while Paul Hastings was selected by Shuanghui, having assisted it on restructuring, offshore activities and other transactions since 2003.
Will meat manufacturer deal trigger more Chinese investment into US? Elizabeth Broomhall reports
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