Smithfield is the world's largest pork producer. It had total sales of $13.1 billion in fiscal 2012, with hog production accounting for $3.05 billion.

The company was founded in 1936 as a family-owned packing plant in Smithfield, Virginia, where it is still headquartered.

Smithfield had 1.09 million sows worldwide in 2012, according to Successful Farming magazine.

Smithfield quadrupled its capacity with its acquisition of Carroll's Foods in 1999 and again in 2000 through its takeover of Murphy Farms Inc.

Smithfield's largest investor is Continental Grain Co, which owns 8.11 million shares, or 5.84 percent of the company's outstanding stock. Continental had recently urged Smithfield management to split the company into three to separate its hog production, international and packaged meats businesses.

Other major shareholders of Smithfield include Vanguard Group, with 6.47 million shares; BlackRock Institutional Trust, with 6.40 million; and LSV Asset Management, with 5.82 million shares.

Smithfield said earlier this month that starting on June 1 it would raise half of its hogs on feed that does not contain ractopamine, a lean-muscle-promoting drug that has been banned in China and Russia.

(Reporting by Mark Weinraub and P.J. Huffstutter; Editing by Lisa Von Ahn)