Shareholders of Smithfield Foods, the world’s largest pork producer, approved on Tuesday the company’s sale to Shuanghui International Holdings, Ltd., a Chinese food giant. The sale landed approval at $4.72 billion, making it the largest-ever Chinese purchase of a U.S. company. The deal will likely close on Thursday. In July, Smithfield CEO Larry Pope told…
Government Extends Review of Smithfield-Shuangui Deal
The U.S. government will extend its review of the proposed sale of Smithfield Foods to Shuanghui International, which would be the largest Chinese takeover of a U.S. company, Smithfield said on Wednesday. The Virginia-based company said the Committee on Foreign Investment in the United States (CFIUS), the interagency group charged with reviewing the national security…