Smithfield Foods sale to Chinese firm gives US pork giant entry to China
China‘s Shuanghui International has made a $4.7bn bid to takeover Smithfield Foods, the world’s largest pork producer, in what would be the biggest takeover of a US company by a Chinese firm to date – if it passes regulatory hurdles.
The deal is likely to run into heavy opposition in Washington, where a series of Chinese takeovers have been blocked by politicians and regulators. Shuanghui, also known as Shineway, is China’s largest pork producer and is part owned by an investment firm run by Goldman Sachs.
A takeover would give Smithfield entry into China, the biggest and fastest growing market for pork. Per-capita pork consumption last year was 86 pounds, up from 70 pounds in 2002, according to Northstar Commodity Investment. In the US consumption was 58 pounds last year, down from 66 pounds in 2002.
And as demand has risen China’s domestic pig farmers have been subject of scandals with thousands of dead pigs found dead in Chinese rivers, disease outbreaks and illnesses.
CONTINUE READING AT: http://www.guardian.co.uk/business/2013/may/29/smithfield-pork-shuanghui-chinese-takeover
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).