SMITHFIELD, Va. (AP) — Smithfield Foods Inc. said the U.S.
government is conducting a secondary review of its pending takeover by China’s
largest meat producer.
The Smithfield-based company said that the Committee on
Foreign Investment in the United States plans to conduct an additional 45-day
The committee reviews proposed foreign acquisitions of U.S.
companies for national security concerns. It can conduct a subsequent
investigation after its initial 30-day review.
Smithfield said it and its suitor, Shuanghui International
Holdings Ltd., don’t plan to comment further on the confidential review process.
The deal, which is subject to regulatory and shareholder
approvals, is expected to close in the second half of the year. It would be the
largest takeover of a U.S. company by a Chinese firm, valued at about $7.1
billion including debt.
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