Smithfield’s Sale Likely to Clear U.S. Security Review

A U.S. national security panel will vet Smithfield Foods Inc.’s purchase by a Chinese buyer for its effects on the food supply and proximity to military bases, though the review is unlikely to derail the deal, lawyers familiar with the process said.

“I don’t see deal-killer objections to this transaction,” said Stewart Baker, an attorney at Steptoe & Johnson LLP in Washington and a former Department of Homeland Security official. “The Obama administration doesn’t want to say ‘no’ to every Chinese deal.”