• Most Popular
  • Most Shared

UPDATE 1-EU extends probe of Dutch dairy group merger

Mon Nov 3, 2008 5:35am EST

BRUSSELS, Nov 3 (Reuters) - The European Commission extended its in-depth investigation on Monday into plans by Dutch dairy groups Friesland Foods and Campina to merge, saying the deal could raise cheese and dairy product prices.

Stocks  |  Mergers & Acquisitions  |  Global Markets

The EU executive extended its probe by 15 working days, it said in a statement, but did not give details for its decision.

The planned deal would create one of the world's largest dairy companies, with combined sales of 9.1 billion euros ($11.63 billion).

Earlier this month, the EU antitrust watchdog exteded its investigation until Nov. 24, after expressing its concerns about the effect of the proposed deal on the prices of fresh dairy products and cheese.

The Commission, executive arm of the European Union, said it also had concerns about desserts, flavored drinks and cream and industrial products sold to food processing and pharmaceutical companies.

Those products included spray-dried emulsions used in bakery applications and pharmaceutical lactose. (Reporting by Darren Ennis, editing by Bate Felix)



More from Reuters

Photo

Plot exposes fissure in U.S. intelligence community

WASHINGTON (Reuters) - Last week's failed plot to bomb a U.S. passenger jet has exposed lingering fissures within the U.S. intelligence community, which had information from interviews and clandestine intercepts but did not put the pieces together, officials said.

Traders work in the pits at the The New York Mercantile Exchange, November 7, 2007. REUTERS/Brendan McDermid

Calling the market

A spectacular credit bust, two devastating stock market crashes ... the smart call this decade was to play it safe.  Full Article 

People walk past a branch of Bank of America in New York's financial district April 28, 2009. REUTERS/Brendan McDermid

Move your money

Boycotting "too big to fail" banks is a great idea -- so long as investors remember that banks aren't the only ones responsible for the crisis.  Full Article