China's Shuanghui Buys Pork Giant Smithfield For $4.7 Billion
RENEE MONTAGNE, HOST:
NPR's business news begins with a meaty Chinese investment in the U.S.
A Chinese meat producer plans to buy the U.S. meat company Smithfield for $4.7 billion dollars. Smithfield is the world's largest pork producers, and by some estimates, if this deal is approved by regulators, it would be the biggest takeover of a U.S. company by a Chinese company.
The Chinese meat producer is called Shuanghui. It's enticing Smithfield's shareholders by offering $34 a share. And that's about 30 percent more than Smithfield's current stock price.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR’s programming is the audio.