Senators Urge Caution In Meatpacking Deal

Law360, New York (March 21, 2008, 12:00 AM EDT) -- Two U.S. senators have asked the U.S. Department of Justice to scrutinize Brazil-based JBS SA's proposed $1.1 billion buyout of Smithfield Beef Group Inc. and National Beef Packing Co., saying the deal raises competition concerns in the meatpacking industry.

Sens Mike Enzi (R-Wyo.) and John Barrasso (R-Wyo.) wrote March 14 to Attorney General Michael Mukasey that the acquisition would further consolidate the U.S. meat processing industry. If the deal goes through, JBS will become the largest beef producer in the U.S. and the world.

“The competitiveness...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.