BRUSSELS--European Union authorities said they had opened an
in-depth investigation into Cargill Inc.'s (CRG.XX) $440 million
purchase of the chocolate business of Archer Daniels Midland Co.
(ADM.LN) amid concerns the deal could lead to higher prices.
The European Commission, the EU's top antitrust authority, said
its preliminary investigation into the transaction, announced in
September, "showed potential competition concerns in the supply of
industrial chocolate to customers in Germany and the U.K."
"The proposed transaction could eliminate an important
competitor and reduce the choice of suitable suppliers in already
concentrated markets, which could lead to price increases," the
Commission said.
The regulator said it would make a final decision on whether to
approve the deal by July 8.
Write to Tom Fairless at tom.fairless@wsj.com
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