Shuanghui

Smithfield Foods
MPR

Pork processor Smithfield Foods has officially been sold.  It is reportedly the largest purchase ever of a US company by a Chinese company.

Today 96% of Smithfield Foods shareholders voted to sell the pork processor to Shuanghui International Holdings Ltd. of Hong Kong.  The deal is worth $7.1 billion.

A hog farm in Lyons, Georgia.
Jeff Vanuga, USDA NRCS

The multi-billion dollar merger announcement between Smithfield Foods and China-based Shuanghui International caught many people by surprise.  Smithfield owns the largest hog processing plant in the world, in Tar Heel.  And thousands of hog farmers and factory workers in North Carolina are employed by the company.

If the deal clears regulatory hurdles, it could be the biggest takeover of a US company by a Chinese company.