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

Farmer-First Focus: Potatoes in the Florida?! The Farmer Living Life in the Fast Lane

Video: Farmer-First Focus: Potatoes in the Florida?! The Farmer Living Life in the Fast Lane

Think Florida is just for oranges and vacationers? Think again. Welcome to Troyer Bros, where the soil is rich, the potatoes are world-class and the farmers are faster than you’d ever expect. In this episode of Farmer-First Focus Friday, we’re hanging out with Anthony Troyer. By day, Anthony is a dedicated Florida farmer managing massive potato rows. But when the work is done, he swaps the tractor cab for a cockpit, hitting the NHRA drag strip to chase down the win light. ?? Whether he's navigating the fields in his Fendt equipment or tearing up the blacktop, Anthony knows that precision and horsepower are the keys to success.