Farms.com Home   Ag Industry News

Smithfield Shareholders Approve $7.1 B Deal

Smithfield Shareholders Approve $7.1 B Deal

By Amanda Brodhagen, Farms.com

Smithfield Foods Inc. shareholders voted Tuesday to approve a $4.7 billion deal, to China’s Shuanghui International Holdings Ltd. Shareholders accepted the $34 per share offer.

More than 96 percent of the votes were in favor of the purchase. This will mark the largest takeover of a U.S. company by a Chinese business.

The deal has already been approved by U.S. government. The transaction is expected to go through later this week.
 


Trending Video

This Implement Means Trouble...

Video: This Implement Means Trouble...

Sometimes you have to pull out the tool that nobody wants to use to save the crop. we're hooked up to the rotary hoe because the ground has crusted over hard, and our corn is struggling to emerge. It's a bumpy, dusty job, but getting that top layer broken up is the only way to give this corn a fighting chance! Once the rescue mission is complete, we're shifting gears. We hit the fields for some spraying, find some dry dirt to work and finally get the planter rolling. It’s been over 2 weeks since a seed has been put into the ground… it sure feels good to be back!!