The DOJ announced on Friday that the merger — proposed a year ago between Thai Union Group, owner of Chicken of the Sea and Bumble Bee — is kaput, saying it would’ve hurt competition in the U.S. canned tuna market.
If the two tuna companies had united forces, it would have combined the second- and third-largest sellers of tinned tuna in the U.S. That’s a big deal when you consider that there are really only three major players in the canned fish business in the country, with the first-largest seller being Starkist.
“Consumers are better off without this deal,” Assistant Attorney General Bill Baer said in a statement, adding that the two companies shouldn’t be surprised. “Our investigation convinced us – and the parties knew or should have known from the get go – that the market is not functioning competitively today, and further consolidation would only make things worse.”
by Mary Beth Quirk via Consumerist