China’s Shineway Eats up Smithfield Foods in $4.7 Billion Deal

NTDonChinaMay 30, 2013
The US’s largest pork processor, Smithfield Foods Inc. has agreed to be purchased by Chinese company Shuanghui International for a massive $4.7 billion US dollars. If approved by the Committee on Foreign Investment in the United States (CFIUS), the deal would be the biggest takeover of a US firm by a Chinese one. Already there are words of caution. China’s pork industry isn’t famed for safety, and the purchase will also mean that Smithfield Foods will be handing over their precious know-how to a foreign competitor. Watch NTD’s Chris Chappell and Karen Chang as they digest this takeover bid.

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