Shareholders just approved the buyout of Smithfield Foods by Shuanghui International of China. More than 96% of shareholders voted in favor. Smithfield executives will make millions on the sale, and the company will become private, which means it doesn’t have to report details of its operations to the Security and Exchange Commission. Shuanghui is partially … Read more
The acquisition of Smithfield Foods by Shaunghui Holdings International was approved by the federal Committee on Foreign Investment in the United States last week according to the company. That committee reviews international business deals to determine any effect on national security. This acquisition will be the largest takeover of a U.S. company by a Chinese firm. The … Read more
Food and Water Watch has joined with other consumer and farm organizations to ask the Committee on Foreign Investment in the United States to reject the proposed Shuanghui Holdings acquisition of Smithfield Foods. The proposed purchase was announced in May 2013. Signers of the letter include Center for Rural Affairs, Land Stewardship Project, Missouri Farmers Union, National … Read more
Food safety experts should be part of the review process of Shuanghui International’s proposed acquisition of Smithfield Foods, one of the largest producers of pork products in the U.S., says a bipartisan group of senators. The proposed purchase will undergo a national security review by the Committee on Foreign Investment in the United States (CFIUS) and … Read more