Chicken from China and Handing Over Inspections To Industry

[Ichingcarpenter]

3. US has approved China buying US Smithfield World largest Pork producer

The U.S. government on Friday approved Shuanghui International Holding’s bid to buy iconic U.S. pork producer Smithfield Foods in what would be the biggest Chinese takeover of a U.S. company to date.
The merger joins Smithfield, the world’s largest pork company, with China’s biggest pork producer, in a deal valued at about $7.1 billion, including debt


The companies said in a joint statement they had received permission from the Committee on Foreign Investment in the United States to complete the transaction, which was struck in May.

The deal gives Shuanghui a premium U.S. food brand at time when a series of food scares have rocked Chinese consumer confidence in domestic food products.

Smithfield shareholders are scheduled to vote on the deal on Sept. 24 and the companies said they expect the transaction to close shortly thereafter. Smithfield shareholders will receive $34 for each share of common stock they own under the deal.


Read more: http://www.politico.com/story/2013/09/us-china-smithfield-96399.html#ixzz2eTgOyJSx



Smithfield has a bad environmental,safety and labor record so one needs to wonder how this will play out with the chinese running things and their record of environment, safety and labor record

http://en.wikipedia.org/wiki/Smithfield_Foods


Bird flu? Swine flu?......... no worries.