We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
ConAgra Brands Inc | NYSE:CAG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.18 | -0.58% | 30.95 | 31.27 | 30.74 | 31.17 | 2,713,073 | 21:38:38 |
The Justice Department on Tuesday said it will require ConAgra Foods Inc., Cargill Inc. and CHS Inc. to divest four flour mills in order to complete the formation of a milling joint venture.
The department, which had been investigating the plan since July, said its antitrust division Tuesday filed a civil lawsuit to block the formation of the venture--to be called Ardent Mills--but it said it also posted a proposed settlement that would resolve its competitive concerns.
The government is seeking the divestiture of flour mills in northern California, southern California, northern Texas and the upper Midwest. The companies had previously said they were prepared to divest four flour-milling facilities in those regions in order to consummate the joint venture.
ConAgra Mills and Horizon Milling--itself a joint venture of Cargill and CHS, formed in 2002--had agreed early last year to form Ardent Mills with the goal of completing the formation in the first quarter of this year.
However, ConAgra pushed its projection back into the second quarter amid regulatory delays. In February, ConAgra--which makes Peter Pan peanut butter and Hunt's ketchup, among other well-known food brands--lowered its outlook for the fiscal year ending in May, citing the Ardent Mills delays as a reason.
Ardent Mills is poised to be the biggest player in the flour-milling industry, with projections pegging it as controlling about a third of the U.S. milling market by capacity.
Write to Michael Calia at michael.calia@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year ConAgra Brands Chart |
1 Month ConAgra Brands Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions