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Chinese meat producer to purchase Smithfield
A Chinese meat producer has agreed to purchase Smithfield Foods. According to the Wall Street Journal, if the acquisition is approved it would be the largest takeover of a US company by a Chinese buyer. The deal comes after a large Smithfield shareholder, Continental Grain Co. urged the company to split itself up.
Shuanghui International Holdings also known as Shineway, agreed to pay $34 per share for Smithfield, a 31% premium to Smithfield’s closing price on Tuesday.
Tags: China, Hogs/Pork, Livestock, Smithfield
This is disgusting it won’t be long before we will be working for the Chinese.