National Farmers Union (NFU) President Roger Johnson issued the following statement in response to shareholder approval of Smithfield Foods Inc. to Shuanghui International Holdings Ltd…
“It is a sad day for family farmers and consumers when the largest pork processing company in the United States is sold to a Chinese interest. Putting ownership of our food system in the hands of other countries does not bode well for the future of our agricultural marketplace. Congress should revisit the official approval process for such transactions with an eye toward assuring that our food systems are more stable, safe and secure, and are based on a model of family farmers and ranchers.”
This week, a Smithfield Foods announced: Shareholders of the company voted overwhelmingly to approve the proposed strategic combination with Shuanghui International Holdings Limited.
At a Special Meeting of Smithfield shareholders held, more than 96% of the votes cast were voted in favour of the transaction, which represents approximately 76% of Smithfield’s total outstanding shares of common stock as of the record date for the Special Meeting.
To read further: Smithfield: Shareholders vote ‘for’ Shuanghui deal