WJTV News Channel 12 - Feds conducting secondary review of Smithfield Foods takeover

Feds conducting secondary review of Smithfield Foods takeover

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The federal government is conducting a secondary review of the pending takeover of Smithfield Foods.

China's largest meat producer will be taking over the Virginia-based company.

The federal committee on foreign investment plans to conduct an additional 45-day investigation.

Earlier this month, Smithfield's CEO said they would not compromise any American food or jobs in the Chinese takeover.

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A Senate committee is asking one of North Carolina's biggest employers if selling to a Chinese company will compromise food safety.

Smithfield Foods CEO Larry Pope says it won't create a risk for America's food supply.

Pope said the deal will actually improve business and create more jobs.

He promised the company will export meat from the U.S. to Shuanghui International and will not be importing any meat from China.

The Committee on Foreign Investments must approve the deal before it can be completed.

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