Smithfield CEO Says Company Won’t Change After China Deal

Lawmakers skeptical of the proposed acquisition of Smithfield Foods Inc. by a Chinese company grilled Chief Executive Officer C. Larry Pope on how the hog processor’s proposed $4.7 billion takeover would affect U.S. exports and security.

Ownership of the world’s biggest pork supplier by China’s Shuanghui International Ltd. will expand exports without harming U.S. food safety or economic competitiveness, Pope told the Senate Agriculture Committee yesterday, responding to the lawmakers’ concerns about potential risks. Chinese access to agricultural technology through the deal won’t lead to that nation eventually sending pig meat to the U.S., he said.