FARM BUSINESS NEWS
CFIUS Extends Review of Smithfield Deal
Wed Jul 24, 2013 03:37 PM CDT

(Dow Jones) -- Smithfield Foods Inc. (SFD) on Wednesday said the Committee on Foreign Investment in the U.S. will conduct a second-phase, 45-day review of the proposed acquisition of Smithfield by Chinese meat producer Shuanghui Group.

In May, Smithfield said it had agreed to be acquired by Shuanghui for about $4.7 billion, a deal that would mark the biggest Chinese takeover of an American company and underscores the Asian nation's renewed determination to scoop up overseas assets.

The rules governing proposed acquisitions of U.S. companies by foreign firms call for a 30-day review following notification of a potential acquisition. At ...

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