US: Government opens probe into Del Monte takeover
Bloomberg said Del Monte Foods is under investigation by the US Department for Justice
The US Department of Justice (DoJ) has opened a probe into the US$5bn takeover of Del Monte Foods, according to reports.
Bloomberg today (29 November) said that court papers regarding an investor settlement over the transaction had been submitted that show the government body is investigating the company's acquisition by private equity investors led by KKR in March.
Del Monte was not immediately available for comment. A spokesperson from the US Department of Justice said: "We won't be commenting one way or the other."
Del Monte Foods reported falling sales and profits from its consumer foods arm as it booked a decline in earnings for the third quarter of its financial year....
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