Chris Clayton DTN Ag Policy Editor
Mon Sep 15, 2014 10:07 PM CDT

U.S. Shanghaied in Smithfield Deal?

Senate Agriculture Committee Chairwoman Debbie Stabenow said reiterated her concerns Monday that legislation is needed to protect American companies from foreign acquisition after a PBS report over the weekend examined the role of the Chinese government in the purchase of Smithfield Foods to Shuanghui International last year.

PBS detailed how the Bank of China quickly approved a $4 billion loan to Shuanghui last year to help finance the $4.7 billion purchase of Smithfield, the world's largest pork producer. The Bank of China's financing decision was driven by the China government's directive to expand meat protein ...

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