日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

Smithfield deal gets 2nd US security review

By Zhang Yuwei in New York | China Daily | Updated: 2013-07-26 08:22

Smithfield Foods Inc, the world's largest pork processor, said Wednesday that a United States foreign-investment committee will conduct an additional 45-day review of its proposed $4.7 billion takeover by Shuanghui International Holdings Ltd, China's largest meat producer.

A Smithfield statement announcing the secondary review offered no comment on the reason for it. But some experts said following an initial 30-day review, the Committee on Foreign Investment in the United States, or CFIUS, which vets proposed foreign acquisitions of US companies for national security concerns, is conducting the additional scrutiny due to "political pressure".

"Moving to the second phase review of this transaction is clearly in response to political pressure exerted by Senate hearings on the takeover earlier in July," said Cliff Burns, a Washington-based attorney with Bryan Cave LLP.

If it goes through, the deal - valued at about $7.1 billion including debt - would be the largest takeover of a US company by a Chinese buyer. But since the announcement in May, some US lawmakers have been voicing concerns about the merger.

The inter-agency committee within the US Department of Treasury is looking at the deal for potential national security concerns, a review process that is confidential.

Earlier this month, Starboard Value LP, a New York-based hedge fund and a large Smithfield shareholder, urged Smithfield to explore other options rather than go ahead with the Shuanghui bid.

In a Congressional hearing on the acquisition earlier this month, Smithfield Foods Chief Executive Officer Larry Pope tried to soothe concerns over issues including pork imports from China.

"This transaction is about exporting high-quality meat products from the US to China to meet the growing global demand for pork and increase global food safety standards," Pope told the Senate panel.

Burns said even though senators' concerns over the Chinese acquisition possibly posing challenges to food safety and security were not explained, "the argument was made in the hearing that the acquisition of Smithfield was a security issue because it could affect the security of the nation's food supply.

"The senators also tried to conflate the economic impact of large takeovers into a national security issue as well, which would certainly take CFIUS reviews into areas not clearly intended by the Congress when it passed the legislation enabling CFIUS in the first place," said Burns, whose law practice focuses on export controls and economic sanctions.

Another reason for the additional review, Burns noted, is linked to the size of this deal.

"I suspect that these issues are raised simply because of the size of the transaction and would not have been raised in the case of smaller deals involving US food-processing companies," said Burns.

Another Washington-based lawyer, who is familiar with Smithfield but asked not to be identified, agreed.

It has become "increasingly common" in CFIUS cases that the committee cannot complete its review within the first 30 days and requires up to an additional 45 days for "high-profile Chinese acquisitions", said the source.

The additional review, he added, doesn't necessarily mean that CFIUS has found any national security issues that would cause a failure to approve the transaction.

Virginia-based Smithfield and Henan-based Shuanghui International, a privately owned meat processing company, continue to expect the transaction to close in the second half of this year.

Both companies, however, said they don't plan to comment further on the confidential review process.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
主站蜘蛛池模板: 久久蜜臀av | 免费在线观看av的网站 | 国产91av在线播放 | 视频一区日韩 | 国产97视频 | 伊人久久婷婷 | 成人午夜免费在线观看 | 中文天堂网 | 毛片在线免费观看视频 | 99在线看 | 国产第二页 | 91毛片网站| 日韩欧美在线看 | 成年午夜视频 | 美女免费av| 亚洲精品久久久久久久久久久久久 | 全球av在线 | 精品久久久久久久久久久aⅴ | 日本久久网站 | 免费毛片网站 | 午夜国产视频 | www.色图| 天天干干天天 | 免费视频一区二区 | 欧美第一视频 | 永久免费看成人av的动态图 | 成人一区二区三区视频 | 国产精品18在线 | 欧美精品xxx | 亚洲伦理影院 | www.久久| 亚洲综合在线视频 | 黄色三级免费网站 | 日韩高清不卡 | www.欧美精品 | 毛片视频在线免费观看 | 一区精品在线 | 久久99久久99 | 激情中文网 | 91精品国产成人www | 黄色三级三级三级三级 |