What Is The Future Of A Chinese-Owned Smithfield Foods?
Smithfield Foods is set to be sold to Chinese firm in a $7.1 billion deal. The Shuanghui Group is the largest meat processor in China, and they have agreed to purchase Smithfield Foods to satisfy a large demand for American-made pork in China. If the deal goes through, it would be the largest ever Chinese acquisition of an American company. Smithfield Foods employs 46,000 employees worldwide. Ten thousand of those employees work in Tarheel, North Carolina. What will happen to the company and its employees? Today on The State of Things, host Frank Stasio discusses the story with Michael Felberbaum, a business writer with the Associated Press.