Smithfield agrees to buyout by China's Shuanghui

GMT 14:20 2013 Tuesday ,24 September

Arab Today, arab today Smithfield agrees to buyout by China\'s Shuanghui

Arab Today

Shareholders of US pork giant Smithfield Foods approved on Tuesday the company's $7.1 billion purchase by China's Shuanghui International, the largest-ever Chinese takeover of a US company. "This is a great transaction for all Smithfield stakeholders, as well as for American farmers and US agriculture," said Smithfield president and chief executive Larry Pope, after the deal received 96 percent of the votes cast at a special shareholders meeting.

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