Stockholders OK sale of Smithfield to Chinese firm for $4.72B

09/25/2013 | FoodSafetyNews.com

Stockholders on Tuesday cleared the sale of Smithfield Foods to Shuanghui International of China. The Senate Agriculture Committee was assured in July by Smithfield CEO Larry Pope that food safety would not be affected by the transfer of ownership and that the deal would not result in Chinese food being imported to the U.S. The $4.72 billion sale, which will likely conclude on Thursday, is the largest Chinese purchase of a U.S. firm in history.

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