© Reuters. FILE PHOTO: An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 2, 2020. REUTERS/Tom Brenner
WASHINGTON (Reuters) – The U.S. Justice Department said on Tuesday that it had filed an antitrust lawsuit aimed at blocking U.S. Sugar Corp from buying rival Imperial Sugar Co.
The department said it filed the lawsuit because the proposed transaction would likely mean higher prices for refined sugar in the southeastern United States.
“U.S. Sugar and Imperial Sugar are already multibillion-dollar corporations and are seeking to further consolidate an already cozy sugar industry,” said Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division.
U.S. Sugar announced in March that it would buy Imperial Sugar, which has operations in Georgia and Kentucky, from Louis Dreyfus Co.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment