LUOHE, China (AP) — At an age when most Chinese executives are long retired, the country’s top hog butcher is taking on a daunting new job persuading Americans to allow him to complete China’s biggest takeover of a U.S. company.
Shuanghui International’s $4.7 billion bid for Smithfield Foods Ltd. has the endorsement of the American company’s board. But facing anxiety over food safety scandals in China and complaints about Chinese cyber spying, 72-year-old chairman Wan Long has launched a charm offensive to reassure Americans they have nothing to fear and possibly much to gain from the tie-up.
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