U.S. Senator Chuck Grassley, the top Republican on the Judiciary Committee, said that he was concerned about Cargill Inc and Continental Grain Co's plan to jointly acquire chicken producer Sanderson Farms (SAFM.O).
Sen. Chuck Grassley speaks at the Senate Finance Committee hearing at the US Capitol in Washington, DC, U.S. February 25, 2021. Tasos Katopodis/Pool via REUTERS
WASHINGTON, Aug 10 - U.S. Senator Chuck Grassley, the top Republican on the Judiciary Committee, said that he was concerned about Cargill Inc and Continental Grain Co's plan to jointly acquire chicken producer Sanderson FarmsCommodities trader Cargill and agricultural investor Continental Grain announced the $4.53 billion deal for Sanderson, the third largest U.S. chicken producer, on Monday.
"I am concerned that continued mergers and acquisitions in an already concentrated poultry industry will increase consolidation, frustrate competition and reduce marketing options," he wrote. "I also am concerned about the impact on consumer choice and price of poultry products." Grassley urged the department to closely scrutinize the deal, noting recent indictments for price-fixing in the chicken industry.Reporting by Diane Bartz; editing by Barbara LewisSubscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
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