Smithfield to be Sold to Chinese Meat Processor

Shuanghui International of China agreed on Wednesday to buy the American meat processor Smithfield Foods for about $4.7 billion, in one of the biggest moves by a Chinese company into the United States to date. Under the terms of the deal, Shuanghui, which is the largest pork processor in China, will pay $34 a share for Smithfield, 31 percent above the company’s closing share price on Tuesday