US: Government opens probe into Del Monte takeover

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.

The DOJ’s antitrust division “has been investigating the facts and circumstances surrounding the sale of Del Monte,” according to a court filing by a lawyer representing Del Monte shareholders.

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.”

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