Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits

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Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits

Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits
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Business Latest News: Chinese Company Buys Smithfield Foods With Giant Merger Profits

Wochit 1:04 mins

China's Shuanghui International recently bought Smithfield foods, the biggest pork producer and processor in the world- and Smithfield's monetary benefits could skyrocket. The American company could receive about $46.6 million in merger-related payments. These two food giants are no doubt creating a first, considering this is the largest Chinese takeover of an American company yet. A U.S. appeals court let stand a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Air India in a legal challenge brought by Delta Air Lines . Billionaire investor Carl Icahn told Dell Inc shareholders that an investment bank would help fund his offer for the PC maker as he sought to assuage concerns over his means to fund the bid.

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