OFT Weighs Divestiture Offer In Princes' Canning Deal

Law360, New York (June 22, 2011, 4:36 PM EDT) -- The U.K.'s Office of Fair Trading said Wednesday it would hold off on referring Princes Ltd.'s planned purchase of Premier Foods Group Ltd.'s canning business to the Competition Commission after the companies offered to divest certain assets.

Princes and Premier said they would divest Premier's Fray Bentos brand of meat-based canned pies and other goods as well as some related manufacturing assets after an OFT investigation found that the deal would spark competition concerns in the U.K.'s canned pie market, the agency said.

The proposed transaction,...
To view the full article, register now.