ConAgra delaying merger of its flour milling business with Cargill, CHS until Q2 due to ongoing regulatory approval process
February 11, 2014
(Industry Intelligence Inc.)
– According to its filing with the Securities and Exchange Commission (SEC), ConAgra Foods Inc. is delaying a merger of its flour milling business with Cargill Inc. and CHS Inc. until the second quarter of this year, Thomson Reuters Corp. reported Feb. 10.
The company cited the ongoing regulatory approval process as the reason for the delay. The U.S. Justice Department's antitrust division was investigating the merger, dubbed Ardent Mills, that would result in Ardent controlling about a third of U.S. flour mill capacity.
The merger would join ConAgra with Horizon Milling LLC , a joint operation between Cargill and CHS that already is the largest flour miller in the U.S.. The deal was first made public in March 2013 and was initially expected to be finalized late last year.
The primary source of this article is Thomson Reuters Corp., London, England, on Feb. 10, 2014.