Some of the names on the move ahead of the open.» Read More
Members of the House Committee on Energy and Commerce wrote to Smithfield on July 24 asking the company to turn over information on its production of crude heparin, the raw ingredient used to make the drug.
The U.S. government is examining the sale of Smithfield foods to China's Shuanghui. Smithfield says they still expect the deal to close some time in the second half of this year.
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July 22- Meat processor Maple Leaf Foods Inc, its stock at multiyear highs on talk that it might be a takeover target, plans to sell its Ontario turkey farms and hatchery.
China's Shuanghui International Holdings, which has agreed to buy U.S. pork producer Smithfield Foods Inc., plans to list the combined company in Hong Kong after completing the takeover.
July 12- Activist shareholder Starboard Value LP said on Friday it hired financial advisers to explore alternative deals for Smithfield Foods Inc., which in late May agreed to a $4.7 billion sale to Hong Kong- based Shuanghui International Holdings.
July 12- Activist shareholder Starboard Value LP said on Friday it engaged financial advisors to explore alternative deal options for Smithfield Foods Inc aside from its planned takeover by China's Shuanghui. Starboard, a New York- based hedge fund and a large Smithfield shareholder, said it hired Moelis& Co and BDA Advisors Inc..
CEO Larry Pope told a Senate committee yesterday that his deal to sell his business to a company in China will not hurt the safety or security of the American food supply, reports CNBC's Joe Kernen.
Senators sought answers from Smithfield CEO on whether the its proposed sale to China's largest pork producer could hurt U.S. food safety and raise prices for American consumers.
U.S. appealed to China's self-interest on Wednesday with calls for deeper economic reforms including changes to the exchange rate policy and a halt to cyber theft of trade secrets.
WASHINGTON, July 10- U.S. senators sought answers from the head of Smithfield Foods on Wednesday about whether the proposed sale of the Virginia ham maker to China's largest pork producer could hurt U.S. food safety and raise prices for American consumers.
WASHINGTON, July 10- The head of Smithfield Foods on Wednesday faced tough questioning from U.S. lawmakers concerned the proposed sale of Virginia ham maker to China's largest pork producer could hurt U.S. food safety and lead to higher prices for American consumers.
Chinese plans to buy America's Smithfield Foods has created concern among some U.S. policymakers about the future of the pork industry and food safety.
WASHINGTON, July 10- The head of Smithfield Foods sought to reassure U.S. legislators on Wednesday that the deal to sell the Virginia ham maker to China's largest pork producer would not jeopardize the safety or security of the American food supply.
Smithfield Foods CEO Larry Pope is testifying before the Senate Agriculture Committee today over concerns about its sale to a Chinese meat producer. Iowa Sen. Charles Grassley (R), offers insight.
Sen. Debbie Stabenow, (D-MI) discusses several issues Congress has about the $4.7 billion dollar sale of Smithfield Foods to Chinese meat processor, Shuanghui International, including food safety and business competition.
Some of the names on the move ahead of the open.
Rick Quinn, partner at FDAimports.com and Patty Lovera, assistant director at Food & Water Watch, argue over whether Smithfield takeover by the Chinese private company Shuanghui presents risks for the U.S.
HONG KONG, July 10- Hong Kong shares may start lower on Wednesday, with investors looking to the China trade data due shortly after market open for further clues on the health of the world's second largest economy. Elsewhere in Asia, Japan's Nikkei was flat, while South Korea's KOSPI was down 0.2 percent at 0043 GMT.