Will sale of Nathan's Famous impact July 4 hot dog eating contest?
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Smithfield Foods has acquired Nathan's Famous for $450 million, purchasing all outstanding shares at $102 each. Despite concerns about the future of the iconic July 4 hot dog-eating contest, Smithfield confirmed that the event will continue at its traditional location in Coney Island. Nathan's has a rich history, dating back to 1916, and remains a staple in American culture, with Joey Chestnut as the reigning champion. The future of Nathan's locations post-merger remains unclear, as Smithfield has not commented on this aspect.
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