Remember That Frightening Commercial Where the Chinese Control Our Country?
It’s for reals now.
China’s Shuanghui to Buy Smithfield Foods
Chinese meat producer Shuanghui International Holdings Ltd. agreed to acquire Smithfield Foods Inc. SFD +0.23% for about $4.7 billion, striking what would be the largest takeover of a U.S. company by a Chinese buyer—should it get past what is likely to be heavy regulatory scrutiny.
Shuanghui agreed to pay $34 per share for Smithfield, the world’s largest hog farmer and pork processor, marking a 31% premium to Smithfield’s Tuesday closing price of $25.97. Including debt, the deal values Smithfield at $7.1 billion.
Smithfield owns an array of household names, including Armour, Farmland and Healthy Ones, and is sold in 12 countries, according to its website. The company’s shares soared 33% to $34.50 in pre-market trading after The Wall Street Journal reported the potential deal.
Biz, World Stuff | tree hugging sister | 
May 29, 2013 9:17 am
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It’s moo shu mania!
Does this mean we have to order “China Bacon” pizzas hereafter?
I just hope someone reminds Shuanghui that cadmium and lead are NOT considered food additives in America.
No worries, they’ve owned us for years…
@Gunslinger – good point. Might also want to point out, since they are buying food companies, that cats, dogs, and scorpions are not considered food in the west…
Though I do like me some fried jellyfish (I consider it vengeance – I’ve been stung…).
I grew up with Smithfield ham and the thought that it will be owned by the same folks that poisoned our pet foods and the worlds baby formulas is deeply disturbing. Hell no.
Remember when we were told that the Japanese would soon own the whole US?
Yeah. Good times. Good times.
One upside–footage of Paula Deen hawking hams to the Chinese.