SWITZERLAND/USA: FTC clears the way for Nestlé to buy Chef America
The Federal Trade Commission, the US antitrust authority, has cleared the acquisition of Chef America, the fifth largest producer of frozen food in the USA, by Nestlé. The deal is expected to close immediately. The transaction, amounting to US$2.6bn, was announced on 6 August, 2002. Once completed, it will give Nestlé clear leadership in two of the three main frozen food categories in the USA, the world's largest market for these products, the company said in a press statement.
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