Chief Executive Officer C. Larry Pope was grilled by US legislators. This was because lawmakers were skeptic about the proposed acquisition of Smithfield Foods Inc by Shuanghui International Ltd. They inquired on how the US$4.7 billion takeover deal would affect the exports and security in the United States.

Pope told Senate Agriculture Committee yesterday that the acquisition would not harm the food safety or the economic competitiveness of the US. He also assured that expanded exports would not compromise the nation's security.  However, the acquisition deal was still fueled with concerns about possible risks. Legislators fear that the Chinese takeover of the US firm would lead to foreign access over intellectual property and less strict rules for product safety.

The proposed deal would give Shuanghui contrl of 460 US farms. It would also give out more than 2000 contracts, said Pope. Both firms voluntarily submitted transaction documentations last May 29 to the US Committee on Foreign Investment.