China To Buy Major U.S. Food Supplier
Ken Jorgustin * Modern Survival Blog
Chinese meat processor Shuanghui International Holdings Ltd. has agreed to buy Smithfield Foods Inc. for approximately $4.72 billion.
As China continues to hack into United States defense systems and steal plans for modern weapons systems technology… they are now evidently buying up our major food suppliers… all the while Americans snooze…
Smithfield Foods owns brands such as Smithfield, Armour, Farmland, John Morrell, Cook’s, Eckrich, Kretschmar, Margherita, Healthy Ones, Curly’s, Garando, and Gwaltney.
They are about to become Chinese owned brands.
The Smithfield, Virginia based company will receive a 31 percent premium to their stock price while they, and their board and management team will profit handsomely from the sale to China.
“Both companies’ boards [Smithfield and Shuanghui] have unanimously approved the transaction, which still needs approval from Smithfield’s shareholders. The transaction may also be subject to review by the U.S.’s Committee on Foreign Investment.”
myfoxny.com
While apparently it is being reported that the jobs of 46,000 employees will remain intact, who’s to say what the future will hold with China at the helm holding the world’s biggest pork producer.
“…the largest Chinese takeover of a U.S. company,” according to data compiled by Bloomberg.
“…Chinese ownership of the U.S.’s largest hog farmer and pork supplier presents a food supply risk…it may have a heightened concern.”
Bloomberg.com
China does have 1,354,040,000 mouths to feed… 4.3 times that of the United States. While almost certainly not all of the food will go to directly to China, the profits will…
“The deal comes amid a record flow of investment by often cash-rich Chinese companies into the U.S. While Chinese firms have taken over some well known U.S. names, including the AMC theater chain and IBM’s personal computer business, the Smithfield acquisition is the first major foray into the food industry and the most significant in terms of a daily consumer item.”
WashingtonPost.com
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Whistler Blowers, Insiders
just a bit creepy to hear this and O meeting the Chinese Pres in L.A. soon?
Oh, oops. Somehow, I don’t think this is going to taste like my favorite Chinese restaurant.
The only way to stop this kind of hostile takeover, is to vote with our dollars. Make note of these brands and simply do not buy them. They can still change names, so still another good reason not to buy prepared foods anyways. There is much evidence that food from China or peddled by China is tainted. Do we really think they prefer us to continue living? If we think its about being good trade partners, we are fooling ourselves.
The only way to beat a fascist state is to shut them out of the household budget. But — everyone has to agree to do it. Know the roots of the goods purchased. Buy (real) American. This is a very do-able point of resistance.
Like a thief in the night they will not see us coming. Dumb Americans, let criminals rule them,stupid irriats