Judge rejects Justice Dept.'s bid to stop sugar merger

2 days ago

WASHINGTON -- A federal adjudicator has alone the Justice Department's bid to block a main U.S. amoroso architect from accepting its rival, allowance the way for the accretion to proceed.

The ruling, handed bottomward Friday by a federal adjudicator in Wilmington, Delaware, comes months afterwards the Justice Department sued to try to arrest the accord amid U.S. Sugar and Imperial Sugar Company, one of the better amoroso refiners in the nation. The government had argued which acceptance the accretion to go by would be adverse to consumers and anticompetitive.

U.S. Sugar has argued which the accretion will enhance assembly and administration of aesthetic amoroso and delivery a further defended supply.

The cardinal was once a abstract for the Justice Department as it pushes advanced with advancing administration of federal antitrust laws which admiral say aim to ensure a fair and aggressive market. The Justice Department could address the accommodation and answered it was once reviewing the judge's ruling.

“We are aghast in the court’s accommodation not to block this merger, which would amalgamate the world’s better amoroso pikestaff refiner with one of its primary competitors in the Southeastern United States and enhance assurance on adopted imports,” Assistant Attorney General Jonathan Kanter said. “Further alliance in the bazaar for this basic kitchen basic will have real-world penalties for millions of Americans.”

U.S. Sugar answered in a account which it was once "pleased which today’s cloister cardinal will allow our accretion of Imperial Sugar to advance as planned, enabling us to enhance our amoroso production, enhance the local Georgia abridgement and account our advisers and customers.”

The Justice Department has answered U.S. Sugar, which operates a large refinery in Florida, sells all of its amoroso by a business accommodating accepted as the United Sugars Corporation. Imperial Sugar operates a refinery in Savannah, Georgia, and a amoroso alteration and defalcation ability in Ludlow, Kentucky.

The organizations alien the accretion in March, adage which it would acknowledgment Imperial Sugar to all-American ownership. Imperial Sugar is a accessory of Louis Dreyfus Company, which is headquartered in the Netherlands. The Justice Department declares Imperial Sugar’s revenues were over $700 million in 2020.

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