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China-US pork deal 'significant'

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China-US pork deal 'significant'

Postby momopi » May 31st, 2013, 8:17 pm

http://www.bbc.co.uk/news/business-22714176

The biggest pork firm in China, Shuanghui International, has made a $4.7bn (£3.1bn) bid to take over the largest pork producer in the US, Smithfield Foods.

If the deal goes ahead it would be the largest takeover of a US company by a Chinese rival.

However, rival bidders may emerge as Smithfield has another 30 days to hold talks with other interested parties.

The BBC's Michelle Fleury said that the proposed takeover was "significant for several reasons".


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A few facts:

* Smithfield is the world's largest pork producer, with operations in 26 US States, Mexico, and 10 EU countries.
* The company owns more pigs than the next 8 largest, processing over 6 billion pounds of pork annually.
* The deal is valued at over $7 billion dollars with assumed debts.
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Postby kai1275 » May 31st, 2013, 9:17 pm

Wow! That is significant indeed!!! Quality pork is getting harder for Chinese to get, especially with swine flu and river dumping scandals recently. Pork is king in China. And with US standards for pork being higher, they could have a nice money making import on their hands, or just a steady uninterrupted supply of pork.
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Postby MIHA » June 10th, 2013, 10:21 am

in other words, all the good pork goes to the usa, and the chinese will be stuck with the crap. god bless the free market
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