It also involved a US company.
According to Thomson Reuters, Chinese meat producer, Shuanghui International Holdings Ltd, agreed to acquire US-based Smithfield Foods Inc. for US$7.0 billion (including assumed liabilities).
The deal is the largest ever Chinese acquisition of a US company and this year’s top deal involving Asia Pacific M&A. China outbound into US reached a record volume of US$11.1 billion, more than double the US$5.4 billion worth of announced deals during the first half of 2012. Total deal value for China outbound M&A amounted to US$36.3 billion, up 110.7% from the first half of 2012.
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