11 December 2024
11 December 2024
The ruling temporarily halts the merger, allowing the FTC to conduct administrative proceedings that will decide its final outcome.
Both companies have refused to be drawn on Bloomberg’s report of a “preliminary approach” from Mondelez – but that hasn’t stopped Wall Street chewing over what could come next.
The deal could create a super-sized free-trade zone but ratification could be challenging amid opposition from some EU member states and industry players.
MHP said the deal will help achieve its goal of “consolidating its position” in the global food industry.
The Oxford Economics report calls for “urgent” action by the government and the industry to ensure food security and stabilise food prices in South East Asia.
The new facility marks the “first new fruit and vegetable processing facility to be built in Australia for decades”.
The former Premier FMCG executive is embarking on his second year of a turnaround plan after joining Tiger Brands in 2023.
The new business, European Dairy Company, will have a combined annual turnover of around €500m ($526.2m).
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