JBS pending acquisitions scrutinised2 May 2008
A US Senate Judiciary subcommittee on the Antitrust, Competition Policy and Consumer Rights, has announced a hearing on May 7 on the ‘Concentration in Agriculture and an Examination of the JBS/Swift Acquisitions'.
The subcommittee is the latest group to consider the proposed acquisition, which would see Brazil-based JBS buy National Beef Packing, Smithfield Beef Group and Five Rivers Ranch Cattle Feeding. Several Congressional representatives, dozens of industry organizations and the Missouri State Attorney General have made their concerns about the pending acquisition known to the Department of Justice, which has to approve the acquisitions. The proposed deal was announced in early March; the DOJ's ruling on it is expected in the next couple of months. Source: meatingplace.com