News

Panel approves Smithfield sale

A government committee that reviews mergers between U.S. firms and those overseas for national security implications has given its okay to the proposed sale of Smithfield Foods to a Chinese company.

Smithfield says the U.S. Committee on Foreign Investment in the United States has given clearance for the world’s largest hog and pork producer to be acquired by Shuanghui International Holdings.

Smithfield shareholders are scheduled to vote on the deal on September 24th and the companies said they expect the transaction to close shortly thereafter.

Link to Smithfield news release