New issues arise around Smithfield/Shuanghui deal

摘要

Members of the House Energy and Commerce Committee are raising concerns about the potential impact of the proposed acquisition of Smithfield Foods Inc. by Shuanghui International Holdings Ltd. on the domestic supply of heparin. Smithfield announced in May it had entered into a definitive merger agreement with Shuanghui International. According to terms of the agreement, at the effective time of the merger, Smithfield shareholders will receive $34.00 per share in cash for each share of Smithfield common stock they own. In addition to the Committee on Foreign Investment in the United States (CFIUS) review, the transaction is subject to certain conditions, including approval by Smithfield's shareholders, the receipt of approval under certain specified foreign merger clearance laws and other customary closing conditions.