A PYMNTS Company

US: Congressmen warn DOJ against Smithfield Foods buyout

By  |  June 28, 2013

Two congressmen have sent a letter to the US Department of Justice and to Assistant Attorney General Baer regarding their concerns over the planned buyout of Smithfield Foods by a Chinese firm. Congressman J. Randy Forbes (VA-04) and Congressman Frank Wolf (VA-10) issued the letter outlining disapproval of the acquisition by Shuanghui International, specifically with regards to the impact the deal could have on free trade agreements and the food supply. The letter requested a full, thorough review of the deal, which would mark the largest buyout of a US company by a Chinese firm, noting that the acquisition “may actually be an anticompetitive merger that would harm both competition and consumers.” The deal was first announced on May 29 of this year.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: MenaFN.com

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.