Smithfield Foods Inc.'s largest shareholder says it will vote in favor of a proposed takeover by a Chinese meat producer after failing to find an alternative bidder.
Starboard Value LP said Friday that it believes another bidder could have offered shareholders a better deal but it could not secure an offer under existing time and financial constraints.
Unless another proposal emerges, Starboard plans on voting in favor of the $34-per-share offer for Smithfield made by China's Shuanghui International Holdings Ltd.
Starboard said earlier this month that it would vote against the $4.7 billion deal because it wanted more time to seek other offers that would provide better shareholder value.
The New York-based investment firm owns about 5.7 percent of Smithfield's common stock.
Smithfield shares fell 20 cents to $33.97 in morning trading.
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An Albuquerque Police officer involved shooting over the weekend marks the fifth since late October and city officials are taking notice.
A woman was stolen from her daughter's car, a woman who died more than five years ago.
Albuquerque police shot and killed a man Sunday night after responding to an assault call near UNM.
Deputies were led on a chase around 4 p.m. Monday after a person called 911 to report their vehicle had been stolen and was being driven recklessly around Albuquerque.
New Mexico could have hundreds of millions of dollars more to spend as legislators get ready to put together next year's budget in the upcoming legislative session.
Organizers of the Gildan New Mexico Bowl are hoping to shed the disappointing attendance numbers that weighed down the event last year when the Colorado State Rams and the Washington State Cougars face off Dec. 21.