COLD CUTS: Smithfield Foods Inc. said Tuesday that it is laying off 120 more workers as part of its previously announced closure of a Virginia facility that makes hot dogs and deli meat. The Smithfield, Va.-based pork producer plans to close the Portsmouth plant in the middle of August, according to Smithfield executive Jeff Gough.
TAKEOVER: The closing comes amid the company’s pending $4.72 billion takeover by China’s largest meat producer under a deal struck last month with Shuanghui International Holdings Ltd.
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