Following today’s announcement by J.M Smucker, Ian Conner, Deputy Director of the Bureau of Competition, made this statement:
“Today’s announcement from Smucker and Conagra that they will abandon their proposed merger is good news for consumers across the United States because they will continue to reap the benefits of vigorous competition in the market for branded canola and vegetable oils.”
On Monday, the Commission voted 2-0 to file an administrative complaint and authorize staff to seek a temporary restraining order and preliminary injunction in federal court to stop the proposed $285 million acquisition.
The FTC charged that the proposed merger would likely reduce competition in the U.S. market for branded canola and vegetable oils sold to grocery stores and other retailers.
NOTE: The Commission issues an administrative complaint when it has “reason to believe” that the law has been or is being violated, and it appears to the Commission that a proceeding is in the public interest.
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