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Starboard Value has thrown in the towel. The activist hedge fund operator that had opposed the sale of pork producer Smithfield Foods to a Chinese meat processor said it can't cobble together a ...
One of the bigger acquisitions of the year is getting a negative review from a major shareholder. Smithfield Foods Inc. (NYSE: SFD) has agreed to be acquired by China's Shuanghui International ...
The deal was the largest ever takeover of a U.S. company by a Chinese company, [3] roughly doubling the number of US jobs tied to direct investment by China. [6] Smithfield ceased to be publicly traded at the deal's completion. [3] In July 2013, Shuanghui announced its plan to list Smithfield on the Hong Kong Stock Exchange after completing the ...
He remained as CEO until 2006 and as chairman until the company was sold to WH Group in 2013. [23] His son, Joseph W. Luter IV, became an executive vice-president of Smithfield Foods in 2008 and president of the Smithfield Packing Company, by then the parent company's largest subsidiary. [24] He resigned in October 2013. [23]
At one time, the company operated 132 company-owned farms and 109 contract farms in the state of Missouri, in addition to a leased farm and eight feed mills. [8] In July 2021, the company closed its original slaughter plant in Smithfield, Virginia. [8] [9] In February 2023, Smithfield Foods closed its meatpacking plant in Vernon, California ...
It also stopped slaughtering pigs at its hometown plant in Smithfield, Virginia, in 2021. The company is not alone: Tyson Foods shut an Iowa pork plant last year, and has closed U.S. poultry ...
ConAgra sold Eckrich to Smithfield Foods on October 2, 2006. [3] All 11 of Peter's children worked delivering meat for the company. Peter's brother Henry took over leadership of the business from Peter and was succeeded by Donald P. Eckrich, who served as president and chief operating officer of Beatrice Companies and president Eckrich. He was ...
The company, which carved out its European business last year, traded in New York from 1999 until 2013, when WH Group acquired it for $4.7 billion — then the biggest Chinese takeover of a U.S. firm.