Friday, July 26, 2013

Investigation of Potential Smithfield Purchase Extended

On July 24, 2013, Smithfield Foods, Inc., announced that the Committee of Foreign Investment in the United States (CFIUS) has notified the parties involved that it will conduct a second phase of investigation lasting 45 days in accordance with the Exon-Florio legislation. The Exon-Florio legislation allows CFIUS to review proposed foreign acquisitions of U.S. companies for potential national security concerns. The legislation provides for an initial 30 day review with an option to extend the process for a period not exceeding 45 days. The CFIUS process is confidential.

Smithfield and Chinese food processing company Shuanghui expect the deal to close in the second half of 2013.

For more information on the potential Smithfield purchase, please see our previous blog post.
Written by Sarah Doyle - Research Assistant
The Agricultural Law Resource and Reference Center
July 26, 2013

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