The $4.7bn acquisition of Smithfield Foods by Shuanghui International is likely to be cleared by the US Treasury department, moving it a step closer to what would be the largest Chinese takeover of a US company, say people familiar with the matter.
The Committee on Foreign Investment in the United States signalled it was leaning towards clearing the deal and the companies could learn of the body’s decision shortly, the people said.
Cfius declined to comment. Smithfield, the US’s largest pig farmer, said it could not comment on the Cfius review.
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