U.S. Senator Chuck Grassley, the top Republican on the Judiciary Committee, said he was concerned about Cargill Inc. and Continental Grain Co.'s plan to jointly acquire chicken producer Sanderson Farms, the third largest U.S. chicken producer, for $4.5 billion.
Retuers reports that in a letter to the Justice Department dated Tuesday, Grassley said combining Sanderson with Wayne Farms, a subsidiary of Continental Grain, would give the combined entity 15% of the U.S. chicken market.
Grassley urged the department to closely scrutinize the deal, noting recent indictments for price-fixing in the chicken industry.
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Cargill, Continental Grain to Buy Sanderson Farms for $4.5B
