Stabenow Questions Transparency in CFIUS Acquisition Review Process
The Committee on Foreign Investment in the U.S. (CFIUS) decision-making process that approved the Smithfield Foods acquisition by the Chinese food company Shuanghui International remains unclear, said Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry Debbie Stabenow,…
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D-Mich., on Sept. 6. Stabenow said she's unaware if issues of food security or China’s protectionist trade barriers were considered. Stabenow pledged that her committee would continue to examine the effectiveness of the CFIUS decision-making process in acquisitions. “It’s troubling that taxpayers have received no assurances that these critical issues have been taken into account in transferring control of one of America’s largest food producers to a Chinese competitor with a spotty record on food safety,” said Sen. Stabenow. The acquisition was approved on Sept. 6 (see 13090922).