Smithfield Foods Inc's acquisition by China's Shuanghui International Holdings Ltd received approval from the U.S. Committee on Foreign Investment. Shuanghui International offered in May to purchase Smithfield, the world's biggest hog producer, for $4.7 billion, the largest ever Chinese acquisition of a U.S. company.The bid has stirred concern among U.S. politicians about food safety and other issues and faced review by a committee of several government agencies overseen by the Treasury Department.Smithfield shareholders are scheduled to vote on the deal at a special meeting on Sept. 24.Committee on Foreign Investment is an inter-agency executive branch panel that examines foreign investment for potential threats to national security.
Smithfield Foods, Inc. produces and markets a variety of fresh meat and packaged meats products both domestically and internationally. Shares of SFD fell by 0.12% or $-0.04/share to $33.92. In the past year, the shares have traded as low as $19.17 and as high as $34.74. On average, 3476360 shares of SFD exchange hands on a given day and today's volume is recorded at 2100858.
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