Cargill 'mum' on Teys Bros. purchase rumor

by Bryan Salvage
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SYDNEY, Australia – Earlier this week, the Australian Competition and Consumer Commission (ACCC) announced it had started monitoring press accounts regarding a possible merger between Cargill and Teys Bros., the second-largest Australian-owned beef processor in the country behind JBS Swift. The Australian Financial Review added that James Packer’s 51% stake in Teys Bros. may be on the table for $500 million.

When asked if Cargill wanted to comment on this news, Michael Martin, Cargill Inc. director of communications, told, “Cargill’s policy is that we do not comment on marketplace rumors or speculations.”
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