Nathan’s Famous / Smithfield Foods merger closes
Nathan’s Famous just submitted a document to the SEC to complete its takeover by Chinese-owned Smithfield Foods and remove its stock market listing. Nathan’s stockholders voted on Friday to approve the transaction and received $102 for their shares. The deal was initially announced in January and terminates 110 years of operation as an independent entity for Nathan’s. Smithfield has been Nathan’s exclusive meatpacker and retail distributor since 2014. Donald Trump has called (in 2016) Nathan’s Famous executive chairman Howard Lorber one of his best friends, which probably made the chance that the federal government would block the Nathan’s / Smithfield merger on national food security grounds low.
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