Smithfield Foods

US-based Smithfield Foods raises around 15 million pigs a year and processes 27 million, producing over six billion pounds of pork. In May 2012, Chinese meat company Shuanghui International made a US$4.7 billion offer for the company.

US legislative risk looms for expanding Chinese firms

Rosa DeLauro had opposed the US$4.7 billion deal by Shuanghui International to buy Smithfield Foods last year.

Proposed legislation on foreign investments could complicate the acquisition plans of Alibaba and other Chinese companies in the United States.

Monday, 29 September, 2014, 3:58am

Series of blunders forced WH to shrink IPO

Nine-figure compensation for chief executive Wan Long was a stumbling block for some potential investors. Photo: Reuters

On the face of it, an initial public offering for WH Group, the world’s biggest pork company, should have been an easy sell.

26 Apr 2014 - 12:33am

Chinese companies target US and UK

Shuanghui International, with meat-processing plants across the mainland, had to overcome opposition in the United States to its takeover of Smithfield Foods. Photo: EPA

The United States and Britain have emerged as the bright spots for overseas Chinese investments lately, while China's investment in the rest of Europe has waned.

4 Nov 2013 - 6:54am

Shuanghui to import more 'clean' pork from new Smithfield unit

Smithfield will supply ractopamine-free pork to Shuanghui. Photo: Nora Tam

Shuanghui International, China’s largest meat processor, plans to import more pork from pigs not fed ractopamine, a controversial food additive, from its new unit Smithfield Foods, the biggest pig farmer in the United States, executives said on Thursday.

10 Oct 2013 - 4:01pm

Shuanghui wins over Smithfield shareholders

Smithfield is the dominant player in the US pork market.

Smithfield Foods shareholders have voted in favour of Shuanghui International's US$4.7 billion deal, approving the largest Chinese purchase of a United States company.

25 Sep 2013 - 4:15am

Shuanghui closer to Smithfield approval

Shuanghui closer to Smithfield approval

Shuanghui International is close to securing shareholder approval for its US$4.7 billion offer for Smithfield Foods - which would be the biggest purchase of a US company by a Chinese firm - three people familiar with the matter said.

19 Sep 2013 - 4:01am

US committee clears Chinese firm's US$4.7b acquisition of Smithfield Foods

Smithfield Foods won national security clearance for its proposed US$4.7 billion sale to a Chinese meat processor. Photo: AP

Smithfield Foods won national security clearance for its proposed US$4.7 billion sale to a Chinese meat processor, overcoming one of the biggest obstacles to a takeover.

8 Sep 2013 - 4:36am

US unlikely to block Chinese purchase of Smithfield

Shuanghui's bid has stirred food and security concerns. Photo: Xinhua

The US government should soon give the go-ahead for the largest ever Chinese acquisition of a US company: a Chinese food group’s US$4.7 billion deal to buy Smithfield Foods, a person familiar with the matter told Reuters.

7 Sep 2013 - 2:09am 1 comment

US likely to approve Chinese purchase of Smithfield

A shop worker is reflected in a mirror as he arranges display of meat products of Shuanghui (Shineway) Group at a Wuhan supermarket. Photo: Reuters

The US government is unlikely to block Chinese meat company Shuanghui International’s US$4.7 billion deal to buy Smithfield Foods on national security grounds, one person familiar with the matter told Reuters.

The deal, if approved, would be the largest ever acquisition of a US company by a Chinese firm.

5 Sep 2013 - 1:03pm

Smithfield investor seeks to block Shuanghui deal

Starboard believes Smithfield is being sold too cheaply.

One of US pork producer Smithfield Foods' largest shareholders said yesterday that it plans to vote against a proposed takeover by China's largest meat producer because it wants more time to seek other offers that would provide greater shareholder value.

4 Sep 2013 - 3:17am

Bilateral talks bring investment boost closer

Shuanghui International. Photo: EPA

The biggest Chinese takeover of a US company - Shuanghui International's US$4.7 billion bid for top pork producer Smithfield Foods - encountered another hurdle last week, but progress in bilateral talks last month offers hope that such problems could one day be a thing of the past.

5 Aug 2013 - 4:02am

US should approve Smithfield Foods purchase

Smithfield is one of the oldest names in the US meat industry. Photo: Bloomberg

Shuanghui International's pending US$4.7 billion purchase of America's Smithfield Foods, the world's largest pork producer, does not involve sensitive areas like cutting-edge technology or telecommunications.

1 Aug 2013 - 6:06am

Shuanghui plans Hong Kong IPO after Smithfield deal

A Hong Kong IPO for a merged Shuanghui-Smithfiled group would allow it to trade in a market that would place a higher valuation on the stock than the US or other exchanges.  Photo: EPA

China’s Shuanghui International, which has agreed to buy US pork producer Smithfield Foods for US$4.7 billion (HK$36.46 billion), plans to list the combined company in Hong Kong after completing the takeover, people with knowledge of the matter said.

16 Jul 2013 - 10:55pm

US senators query Shuanghui-Smithfield deal

Larry Pope (left), chief executive of Smithfield Foods and Matthew Slaughter (right), director of the Center for Global Business and Government, answer questions during a Senate hearing in Washington. Photo: AFP

While the chief executive of Smithfield, C. Larry Pope, said the US$4.7 billion acquisition would have "no impact on the US food supply and, therefore, no impact on food security", several senators said they feared that promises by the Chinese company, Shuanghui International, would not be honoured over the long term.

12 Jul 2013 - 4:46am 1 comment

Art of persuasion can help Chinese companies find global welcome

The US$4.7 billion deal by Shuanghui International to buy US firm Smithfield Foods has raised questions about the price of overseas acquisitions. Photo: Reuters

The US$4.7 billion deal by meat processing enterprise Shuanghui International to buy the US firm Smithfield Foods has again raised questions about the price of overseas acquisitions. Is it wise for Shuanghui to acquire the US pork producer at over 30 per cent premium without any requirements?

24 Jun 2013 - 3:35am

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