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US: DOJ clears Smithfield buyout among political controversy

By  |  July 12, 2013
US: DOJ clears Smithfield buyout among political controversy

Amid political controversy surrounding the buyout of Smithfield Foods, the company announced Friday the Department of Justice review period has expired, effectively clearing the acquisition by the regulator. The deal, which would see Chinese firm Shuanghui acquire the pork company in the largest-ever buyout of an American firm by a Chinese company, earned heated debate within the US Senate in recent days. The deal now awaits approval by Smithfield shareholders as well as various other review boards.

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