China's Shuanghui Buys Pork Giant Smithfield For $4.7 Billion

Transcript

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.