the fund values the deal around $55 versus shuanghui's offer of $34. shares closed monday at $33.08. "i don't think this thing is going any higher than it is right now. you know, when the news came out yesterday morning they were not real convincing about it. there was no compelling reason for shuanghui to not go through with this." that was scott bauer of trading advantage. smithfield once rejected an offer to break up the company. lowe's is swooping in to buy a bankrupt competitor. the home improvement retailer has bought orchard supply hardware stores for $205 million. lowe's will now acquire 60 of orchard's 91 stores, located in california, where the housing market is seeing a strong rebound. the stores will operate independently. orchard's stock got a boost yesterday, jumping 12%. the supreme court handed down a ruling that creates patent problems for drug companies. the high court ruled that brand- name drug makers can be sued for paying off potential competitiors that have generic verisons. the practice is known as pay-for-delay. the case was ce

china's shuanghui international is acquiring smithfield foods for about

the planned $4.7 billion acquistition of smithfield foods by china's shuanghui international might see decades- old laws stand in the way. at least five midwest states have laws on the books that restrict foreign businesses or governments from owing or even controlling u.s. land that is used for livestock or crop production. smithfield lawyers are reportedly aware of the laws and do not consider them a threat to the deal. a group of bangladeshi building inspectors are now suspended. seven inspectors are accused of negligence following the collapse of a garment factory that killed over 1100 people in april. authorities are accused of renewing building licenses without inspecting the factory. if found guilty, all of the mid-level officials would lose their jobs and face prison time. mcdonald's stock is trading higher on the heels of a sales boost in may. sales were up 2.4% in the u.s. and 2% in europe. in asia, the middle east and africa, the number inched up 0.9%. the upward trend is a huge plus for the fast food chain - it follows a decline in the first quarter. its dollar items and ne

they say they considered several offers but the shuanghui deal provides shareholders with significant smithfield foods in frankfurt down 1.2%. >>> europe has recorded its lowest share of global m&a since 1998. according to deallogics's latest report, they have built over $300 billion this year, down 29% from the same period last year. britain remains the most targeted country for the fourth year running and now represents 22% of europe's total m&a volume. >>> quick reminder of the agenda in asia. tomorrow we've got trade numbers out of japan as well as same-store sales for the month of may. over in malaysia, inflation data will be out. >>> all right, we'll take a short break. any thoughts or comments? e-mail worldwide@cnbc.com. >>> still to come, taper speculation has got traders in a tizzy once again. we'll talk to head of global strategy robert butland. the second half hour of "worldwide exchange" comes right after this. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what

china's shuanghui international is acquiring smithfield foods for about $4.7 billion. smithfield is the world's largest hog farmer and pork processor, and its brands include armor, farmland and smithfield. the deal is the largest chinese acquisition of an american company and must be approved by american regulators. >>> while the holiday-shortened week on wall street proved volatile for the markets, the dow up triple digits on tuesday, but on wednesday had the worst day in about a month. a spiking yield for the ten-year bond moving the market. stocks fell later in the week. pimco's ceo mohamed el erian says keep a close eye on equities right now. >> we're starting to see dislocations in markets. like you, we'll look across a lot of markets, and there's something going on the last few days. there's something going on. so, you know, all this is saying, you know what, let's book the profits, let's get it more liquid. >> meanwhile, the broadest measure of the size and strength of the u.s. economy was revised downward. the second reading of the gross domestic product showed

$55 a share, if it were broken up compared with the $34 a share deal that they already have with shuanghui. what the ceo had to say on "squawk box" a little while ago. >> our letter isn't meant to get the company to stop the transaction in and of itself and we're necessarily against the transaction. we just believe that the company didn't necessarily look at the alternative of selling the company in pieces as opposed to selling as a whole. >> all right. if you're going to try and actually get more value, those are not strongest words you might want to use, saying we're not necessarily against the transaction. a smart guy, a lot of success, jeff smith. i spoke to him a couple of months ago. act the activist investor summit in new york. success in aol, they didn't get board seats there, but office depot. this one, i'm dubious. not because there might not be value. continental grain had a 13 d, pushing for a breakup of the company said the value was 40 bucks. paul free borg, they're out entirely, they sold into the rise and stock prior to and into the announcement of the chinese deal. he's co

there's been a good amount of press now to focus on shuanghui, the $7 billion buyer here, but i still might not see another bidder emerge. there is a shoernted auction of the company. there was other interest whether they would come out and beat that $34 a share number. we'll see. it was an aggressive number. >> and it comes in advance of the meeting by president shi and president obama for two days. >> i don't believe it. let's hope it's not. >> let's check out the action in the energy and the metals. the metals have been so bad. sharon epperson. >> you were mentioning china very much the focus of the energy sector as well and particularly the factory data that we got out that showed slowing momentum. that sent brent crude prices below $100 a barrel and look at how oil prices have bounced and what seems to be taking front and center in traders' minds is what happened in the north sea and they're having operational problems and it's the largest field in the uk producing 140,000 barrels per day, and that, of course, is the key stream that is the benchmark for the brent price. we are al