Smithfield – Biggest Chinese Buyout Ever
Chinese companies aren’t just interested in American media outlets or technology. China is just as interested in gaining some control in the food arena as well. In September of last year, Smithfield Foods (SFD) shareholders agreed to the $4.7 billion acquisition offer from Shuanghui International. It was the biggest-ever acquisition of a publicly-traded U.S. company by a Chinese buyer.
The worries that an overseas company from a now-somewhat-adversarial nation now controlled a great deal of the United States’ food supply were heard, but ultimately ignored.