U.S. to appeal court loss against sugar merger
[html]WASHINGTON (Reuters) – The U.S. Justice Department said on Monday that it would appeal a judge’s ruling that U.S. Sugar Corp’s plans…
WASHINGTON (Reuters) – The U.S. Justice Department said on Monday that it would appeal a judge’s ruling that U.S. Sugar Corp’s plans to buy rival Imperial Sugar Co was legal under antitrust law, according to a court filing.
Judge Maryellen Noreika of the U.S. District Court for Delaware had ruled for the co*panies on Friday, rejecting the government’s request that she stop the deal from going forward.
The Justice Department said in a lawsuit filed last November that the $315 million deal would give some 75% of refined sugar sales in the U.S. southeast to U.S. Sugar, owner and member of a cooperative with three other co*panies, and American Sugar Refining, which sells under the Domino brand.
An official for U.S. Sugar did not immediately respond to a request for co*ment.
(Reporting by Diane Bartz; Editing by Kim Coghill)
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