By using this site, you agree to the Privacy Policy and Terms of Use.
Close X

Morning Express with Robin Meade

A fast, personal, and smart blend of all the news you want in the morning. We call it "News in the Fast Lane." So buckle up.

Is China going hog-wild over pork deal?

NEED TO KNOW
  • Smithfield is world's biggest pork producer
  • Chinese firm Shuanghui has agreed to pay $4.7 billion for company
 Farmland pork products are on sale at a supermarket on May 30, 2013 in Pico Rivera, California. Farmland is a brand owned by Smithfield Foods Inc, which is the biggest pork producer in the world. A Chinese company based in Hong Kong, Shuanghui International Holdings Ltd. has agreed to buy Smithfield Foods Inc. for approximately $4.72 billion.

Should Congress allow a Chinese company to buy America’s biggest producer of ham, bacon and pork products?

The Chinese company Shuanghui has agreed to pay $4.7 billion to buy Smithfield Foods, out of Smithfield, Virginia. If the deal is approved, it could be China’s biggest acquisition in America yet. 

Smithfield is the biggest pork producer in the world, raising about 15 million pigs a year.

Smithfield Foods (SFD) is currently a publicly traded company, but this deal would reportedly take the food company private -- which, legally, means the company could keep information far more private than it does now.

Shuanghui has reportedly had a questionable safety record. It had to destroy thousands of tons of its pork after Chinese media reported that a chemical dangerous to humans was found in its meat -- a chemical that makes meat more lean, according to the Washington Post.

Many on Wall Street expect the deal to go through, though politicians will likely have concerns to address. Food safety and the passing of sensitive farming technology to a Chinese company are just two that may come up. 

Perhaps most importantly, though, lawmakers will want to know how this deal sits with the American people. What do you think?

Morning Express with Robin Meade airs Monday through Friday at 6 a.m. ET on HLN. Like the show on Facebook, follow on Twitter: @MorningExp.

Join the conversation...

HLNtv.com welcomes a lively and courteous discussion as long as you follow the Rules of Conduct set forth in our Terms of Service. Comments are not pre-screened before they post. You agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Service.
Update: Airbag recall expands
Your Money | See all 841 items Update: Airbag recall expands

Advertisement