U.S. sues to halt sugar merger, says it would harm competition

WASHINGTON -- The Justice Department filed a lawsuit on Tuesday seeking to block a major U.S. sugar manufacturer from acquiring its rival, arguing that allowing the deal would harm competition and consumers.

The suit was filed in federal court in Delaware. It comes about eight months after U.S. Sugar announced it reached an agreement to acquire the Imperial Sugar Company, one of the largest sugar refiners in the nation.

The lawsuit is the latest example of the Justice Department's approach to aggressive enforcement of federal antitrust law that officials say is aimed at ensuring a fair and competitive market. It comes months after President Joe Biden signed an executive order that called on the Justice Department and Federal Trade Commission to vigorously enforce antitrust statutes and promote market competition.

"Robust antitrust enforcement is an essential pillar of the Justice Department's commitment to ensuring economic opportunity and fairness for all," Attorney General Merrick Garland said in a statement. "We will not hesitate to challenge anticompetitive mergers that would harm American consumers and businesses alike."

Read more: https://www.texarkanagazette.com/news/2021/nov/23/us-sues-to-halt-sugar-merger-says-it-would-harm/