Japan-based trader Marubeni Corp. has reportedly decided to exclude the energy business of US-based grain supplier Gavilon Holdings LLC from its buyout, resulting in a deal worth $1 billion less than the original agreement. The acquisition, first announced in May of last year, will now see Marubeni pay $2.6 billion for the grain company; that number was revised down from $3.6 billion after Marubeni originally agreed to take on more than $2 billion of Gavilon’s debt. According to one expert in Tokyo, the revised deal will prove beneficial to Marubeni as Gavilon’s energy branch would not benefit the Tokyo-based company and thus will save the company financially from excluding it from the offer. According to reports, the buyout will position Marubeni to better outsource corn and soybeans against competitor Cargill Inc.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI