JBS Pulls Out Of National Beef Packing Deal

Brazil-based JBS, the world's largest beef processor, has decided to end its pursuit of National Beef Packing Company, the fourth largest beef producer in the US. In March 2008 JBS agreed to buy the firm for US$565mn but the firm has now terminated the process citing 'the absence of satisfactory conditions'. The US department of Justice had sought to block the deal on competition grounds. However, the sharp appreciation of the US dollar against the Brazilian Real, along with the deteriorating global economic situation may also have played a part in persuading JBS to withdraw from the

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