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China: Nation’s largest US buyout completed

 |  September 26, 2013

China has officially completed its largest-ever buyout of a US company with Shuanghui International Holdings’ acquisition of Smithfield Foods Inc., according to Smithfield CEO Larry Pope.

Pope announced shareholder clearance of the deal, which was reported to be made for about $4.7 billion, or $7.1 billion including outstanding debt.

Following the shareholder vote, listed stocks will no longer be traded publically.

The merger did not finalize without controversy, however. Recent weeks have sparked debate as to the potential negative effects on US safety the transaction would provoke.

Full Content: China Daily USA

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