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Smithfield Foods has agreed to be bought by Shuanghui


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SPIDER
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Joined: 27 Mar 2006
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Smithfield Foods has agreed to be bought by Shuanghui



Home of famous Va. hams ponders foreign buyout!
By MICHAEL FELBERBAUM | Associated Press
Sat, Jun 1, 2013


SMITHFIELD, Va. (AP)
You can't go far in this historic southeastern Virginia town without seeing a pig.

A herd of life-size swine statues lines its downtown, an ornament of a piglet wearing a bandanna adorns a front lawn, hams hang in storefronts and a pickup truck flaunts the license plate "PIG TIME."

The home of the world's largest pork producer and maker of famous Smithfield hams is divided in its reaction to news that the company agreed to be bought by a Chinese company.

The reception is as mixed as whether the locals favor salt-cured or sugar-cured ham.

Smithfield Foods Inc. agreed to a $4.72 billion offer from Shuanghui International Holdings Ltd., the majority shareholder in China's largest meat processor.

The deal, which would be the largest takeover of a U.S. company by a Chinese firm,
still faces a federal regulatory review and Smithfield shareholder approval.


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