© 2024 254 North Front Street, Suite 300, Wilmington, NC 28401 | 910.343.1640
News Classical 91.3 Wilmington 92.7 Wilmington 96.7 Southport
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
CAPE FEAR MEMORIAL BRIDGE CLOSURE: UPDATES, RESOURCES, AND CONTEXT

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. Transcript provided by NPR, Copyright NPR.