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JBS Acquisitions Draw Disapproval of Senate Anti-trust Chair

The chair of the important U.S. Senate Committee on Antitrust, Competition Policy & Consumer Rights this week called for the U.S. Department of Justice to block the proposed acquisitions of National Beef Packing Co. and the beef division of Smithfield Foods Inc. by JBS S.A.

Sen. Herb Kohl, D-Wisc., wrote to Assistant Attorney General Thomas Barnett, who directs Justice's antitrust division, to advise him that the committee has completed its examination of the proposed acquisitions and that "I have concluded the acquisitions would likely cause substantial harm to competition and consumers" and would be contrary to the antitrust provisions of the Clayton Act. He urged Justice to take action to block the acquisitions, action that would need to go into court should JBS not accept the conclusions of the department's review.

Source: Feedstuffs