First Business

May 31, 2013

Smithfield may add U.S. jobs after acquisition, observer says

China consumes a lot of pork, which means the acquisition of Patrick Cudahy LLC parent company Smithfield Foods Inc. by a Chinese company will likely go down as a big win, according to one industry observer.

Smithfield, Va.-based Smithfield Foods (NYSE: SFD) on Wednesday announced its acquisition by Shuanghui International Holdings Limited in a definitive merger agreement that values Smithfield at approximately $7.1 billion, including the assumption of Smithfieldâ;€™s net debt. Smithfield Foods ownsâ;€¦;

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