Smithfield shareholders overwhelmingly approved the sale of their company to Shuanghui of China. Over 96 percent of shareholders voted for the sale. South Dakota Pork Producers President Andrew Arhart says in the long run he thinks the sale will be beneficial to the U.S. pork industry and South Dakota’s producers.
Arhart says the sale should also help U.S. producers export more of their product to China.
Smithfield CEO Larry Pope says they’re pleased with the outcome of the vote and that the transaction is great for Smithfield’s stakeholders as well as for American farmers and U.S. agriculture.