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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Smithfield Foods, Inc. | NYSE:SFD | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 33.97 | 0.00 | 01:00:00 |
From May 2019 to May 2024
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 the conclusion of this, the CFIUS has the option to extend the process for a period of up to 45 days longer.
Smithfield and Shuanghui International continue to expect the transaction to close in the second half of this year.
Shares of Smithfield closed Tuesday at $33.30 and were inactive premarket. The stock has risen 83% in the past 12 months.
Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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