On Wednesday, US Senators questioned the head of Smithfield Foods Inc as they looked for answers over the proposed sale of the company to China’s Shuanghui International.
Tags: Smithfield Foods
China's Shuanghui to fight for control over Campofrio
Hong Kong-based Shuanghui International Holdings intends to offer a counter bid for Spanish meat processor Campofrio. Mexican food company Sigma Alimentos earlier offered Campofrio a takeover deal worth EUR695 million.
Starboard Value supports Shanghui offer for Smithfield
Due to the lack of competitive offers, Starboard Value throws its support behind Shanghui's bid for the takeover of Smithfield.
Smithfield acquisition awaits shareholder approval after US clearance
Shuanghui International Holdings and Smithfield Foods Inc released a joint statement saying they received another clearance from the U.S. Committee on Foreign Investment on the food firms' USD4.7 billion takeover deal.
Starboard says several investors are willing to pay more for Smithfield
According to activist hedge fund Starboard Value, there had been several investors who were willing to pay more for Smithfield Foods than the offered price of China's Shuanghui International Holdings.
Latest News
C. Larry Pope said takeover by the Chinese would not change anything. Smithfield Foods Inc. Chief Executive Officer C. Larry Pope has answered to lawmakers suspicious of the proposed acquisition of Smithfield Foods Inc.
CEO Smithfield Foods is scheduled to testify before the Senate Agriculture Committee in Washington on July 10 regarding it's deal with Shuanghui International.
Nearly two dozen senators urged careful review of the Smithfield-Shuanghui deal stating issues on national security and increased foreign ownership of US foodmakers.
Continental Grain Co has criticized the continuous reply of Smithfield Foods. One of the biggest shareholders in Smithfield Foods Inc, Continental Grain Co has urged the meat company to add three new directors to its existing board.
1
