As well as approval under Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") , Shuanghui and Smithfields have received foreign antitrust or anti-competition approvals in Mexico and Poland.

Smithfield expects the transaction to close in the second half of 2013.

Shuanghui International is a Hong Kong based privately held company that is the majority shareholder of China's largest meat processing company, Henan Shuanghui Investment & Development Co.

Smithfield has entered into a definitive merger agreement with Shuanghui International on 29 May.

Under the terms of the agreement, at the effective time of the merger, Smithfield shareholders will receive $34.00 per share in cash for each share of Smithfield common stock that they own.

The deal remains subject to certain conditions, including, among others, approval by Smithfield's shareholders, the receipt of approval under certain specified other foreign merger clearance laws, review by The Committee on Foreign Investment in the United States and other customary closing conditions.

Shuanghui has also reported that the $4 billion loan backing it has received for the deal has raised $5 billion from banks and the figure could rise to $9 billion.

The company is reported to be backed by Rabobank, Natixis, Royal Bank of Scotland and Standard Chartered Bank and further backing could come from Credit Agricole CIB, DBS Bank, Industrial and Commercial Bank of China and ING Bank.