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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Smithfield Chinese Deal Approved By U.S. Government 0 comments
    Sep 10, 2013 9:45 AM | about stocks: SFD

    Originally published at www.seclive.com

    The U.S. Committee on Foreign Investment in the United States (CFIUS) has approved the $4.7B purchase of Smithfield Foods (NYSE:SFD) by Shuanghui International. Shuanghui, China's largest pork producer would instantly become the world's largest pork producer, a title held by the Smithfield, Virginia company. If approved by Smithfield shareholders on September 24, the deal is expected to close not long after. Executives from both Smithfield and Shuanghui were pleased with the favorable consideration by CFIUS, remarking that both companies look forward to moving ahead as one company. U.S. lawmakers have long been concerned about potential national security concerns by having the Chinese own such a prominent U.S. food company, with Shuanghui not having a clean food safety record.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: SFD
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