Thai Union Frozen Products: Bumble Bee Deal Stung by US Inquiry
SEAFOODNEWS.COM [Nikkei Report] YUKAKO ONO - July 27, 2015
BANGKOK -- Shares of Thai Union Frozen Products (TUF), the world's largest producer of canned tuna, dropped 10% in two days after U.S. antitrust concerns led to the suspension of a preferential public share offering for up to $400 million to fund a $1.5-billion acquisition of Bumble Bee Seafoods.
The abrupt cancelation came two days after the subscription was launched on July 20.
According to a filing at the Stock Exchange of Thailand, the U.S. Department of Justice sent a subpoena to Tri-Union Seafoods, TUF's local subsidiary, requesting information "in relation to an antitrust investigation of the packaged seafood ...
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