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Sunday, June 02, 2013

Smithfield Foods-Shuanghui deal: China "just needs the food," expert says

Smithfield Foods, the world's largest pork producer, is being bought by Shuanghui. The price: almost $5 billion. If approved, it will be the largest takeover of an American company by a Chinese buyer.

This is the latest in a string of American companies being purchased by China.

So why this company -- and why now?

They need the food, according to CBS News contributor and analyst Mellody Hobson. "That's the bottom line," she said. "China is the biggest consumer of pork in the world."

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18 comments:

Anonymous said...

Go ahead and sell it. Thats capitalism. Just won't see meat eating any of their products anymore.

Anonymous said...

What a disgrace - I will never buy a Smithfield product again and if any one doesn't think that Smithfield will not start producing pork in China you are out of your mind. This winter thousands of pigs washed ashore in China because of a virus. Farmers just dumped the bodies into the rivers. NO MORE SMITHFIELD!!!

Anonymous said...

Smithfield you suck

Anonymous said...

Its a sad thing to think that one day everything will be owned by these foreign countries.But when you have a president who does not give a rats ass about our country.

Anonymous said...

so what?!!! Our gov't sold out to China years ago!

Anonymous said...

It is disgusting enough how we have pork factories here in the US it will be far worse with them.

Anonymous said...

Glad I taught myself how to raise, butcher and process on my own. If I don't put it in the bag, I don't eat it. There will be some major outbreak, at some point, once this takeover is completed. That's how the china man rolls.

Anonymous said...

that's a shame.. their stuff was good. guess i'm not buying their crap anymore.

Anonymous said...

We just keep selling out to these countries. No more Smithfield products for my family!

Anonymous said...

There trying to kill us with poison toys,products,screw up our military with the internet and now they will sell us food?Its like a Simpson's episode!

Anonymous said...

Ever notice how the communists always buy capitalist business's.

Anonymous said...

I haven't eaten their "12% solution" garbage in ten years! Can't even taste the meat past that "solution".

Anonymous said...

4:31 I agree....it is so disgusting.

Anonymous said...

I'm not buying anymore Smithfield products ever. I really enjoyed their honey bacon but I'll give it up because of what they did.

Anonymous said...

Smiffield ploducts sucky sucky big time.

Anonymous said...

Check your labels before buying any Smithfield product. More and more of their products are coming from Mexico.

Anonymous said...

And China doesn't have the problems with Muslims that the rest of the world is having. They won't put up with it.

Anonymous said...

1029, yet another dum dum comment. China has long been battling islamic fundamentalists even before 9/11. There have been hundreds of civilian deaths due to terror attacks in China. We helped tamper down the attacks when we went into Afghan.