The Justice Department says it doesn’t matter whether you’re related to Elaine Benes or not, you can’t make anti-competitive deals. Antitrust agents filed a complaint to block the sale of Imperial Sugar by Louis Dreyfus Co. to US Sugar on Tuesday.
According to the DOJ, if the acquisition of about $ 315 million were to be successful, 75% of sugar sales in the Southeastern United States would remain in the hands of just two companies, a reduction in competition that it says. it would increase costs for consumers.
- US Sugar responded by saying the sale would increase sugar supply and production and solve supply chain problems.
MJ antitrust: This is the fourth major challenge for the DOJ in recent months, fulfilling the Biden administration’s commitment to fight industry consolidation. Recent highlights include:
- Successfully prevent a $ 30 billion insurance merger in July
- Lawsuit against American Airlines and JetBlue’s growing alliance
- Lawsuit to stop the merger of publishers Penguin Random House and Simon & Schuster
Fun fact: Seinfeld and Veep‘s Julia Louis-Dreyfus is the great-great-granddaughter of Léopold Louis-Dreyfus, who founded the Louis Dreyfus Group in 1851.—MK
