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Smithfield Foods Inc. (NYSE: SFD) has agreed to be acquired by China's Shuanghui International Holdings Ltd. for about $7.4 billion, or $34 a Activist Investor Objects to Smithfield Chinese ...
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 ...
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 deal that would supersede the one received.
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]
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The Virginia General Assembly passed a statute defining "Smithfield ham" by law in 1926, with one of the requirements that it be processed within the town limits. Smithfield Foods, a Chinese Fortune 500 company that owns Smithfield Packing Company and others, is the world's largest pork processor and hog producer. The company, based in ...
The senior Luter was born in Ivor town in Southampton County, Virginia in 1879. Joe Luter's grandson, Joe Luter III, would go on to lead the company decades later. [3] Smithfield, Virginia was known for its pork products as early as the 18th Century. Isle of Wight bacon and Smithfield ham were its most famous products. In 1926, a law was passed ...
Net income at the Smithfield, Va., company for the period that ended Aug. 1 was $76.3 million, or 46 cents a share, compared to Smithfield Foods Earnings: Top Pork Company Brings Home the Bacon ...