Shareholders of Smithfield Foods Inc. — parent company of Utah’s massive Circle Four Farms hog operation in Milford — approved on Tuesday a plan to sell the world’s largest pork producer and processor to a Chinese company. The Smithfield, Va.-based company said more than 96 percent of the votes cast during a special meeting in Richmond were in favor of Shuanghui International Holdings Ltd.’s $34 per share offer, or $4.72 billion in cash. The deal, which is expected to close Thursday, will be the largest takeover of a U.S. company by a Chinese firm, valued at about $7.1 billion including debt. Its sale to Hong Kong-based Shuanghui comes at a time of serious food safety problems in China, some of which have involved Shuanghui, which owns food and logistics enterprises and is the largest shareholder of China’s biggest meat processor. "We will cease to be the company you saw in the past," Smithfield’s CEO Larry Pope told shareholders. "This does not mean the company goes away, the company just enters into a new phase and a new era of its life."...
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Be careful, the next time you order a ham sandwich with mayo, you may get a sandwich and a picture of Mao Tse-tung.
Will the National Pork Producers Council become the Hog Workers of the World?
Will pork chops become pork chop chops?
When they say red chili and pork they will really mean red.
Personally, I don't think this will work. Why? Because the commies will limit the sows to one pig per litter.
My final comment is 上帝幫助我們 Curious? Paste it in Google translate.
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