Senators want more oversight on Smithfield deal

Published online: Jun 23, 2013
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Members of the Senate Ag Committee are asking for expanded oversight into the proposed sale of Smithfield Foods to Shuanghui International.

The deal will undergo a national security review by the Committee on Foreign Investment in the United States (CFIUS) but the Treasury Secretary has the authority to add other agencies to the review process.

In a letter to Treasury Secretary Jacob Lew, Ag Committee Chair Debbie Stabenow, Ranking Member Thad Cochran and 13 other Ag Committee members, citing concerns about the safety of the nation's food supply, requested the USDA and the FDA be included in the review process.

The senators also express concerns about similar deals in the future: "how these transactions are reviewed and whether the appropriate authorities are evaluating potential risks and proposing sufficient mitigation measures to protect American interests."

Source: brownfieldagnews.com