Sen. Charles Grassley (R-Iowa) has asked the Department of Justice to investigate the purchase of Cargill’s pork division by JBS USA Pork, reports the Minneapolis Star-Tribune. He stated his concerns that the deal will restrict competition and end up with consumers paying more for pork.
“I urge the antitrust division to thoroughly examine this proposed acquisition to preserve a competitive market in the pork industry,” Grassley wrote to Assistant Attorney General William Baer in a letter dated Monday.
Grassley said he wants to make sure the sale does not “facilitate … anti-competitive and predatory business practices in the industry.” The purchase will consolidate 71 percent of the nation’s pork processing capacity among four companies, he added.
Cargill spokesman Michael Martin told the Star-Tribune that the company has made the appropriate filings with the Justice Department.
“We look forward to their review,” he said.
Source: Minneapolis Star-Tribune