Big U.S. Flour Merger Closer To Completion With Mill Sale
April 24 (Reuters) - U.S. food and grain-handling companies ConAgra Foods Inc,Cargill Inc and CHS Inc have moved closer to sealing a deal to merge their North American flour mill operations by agreeing to sell four mills to a Japanese company.
Divesting the operations was part of the companies' plans to complete the merger and create a company called Ardent Mills, which would control a third of the U.S. flour market.
Completion of the deal has taken longer than expected due to an investigation by the U.S. Justice Department's antitrust division.
Under the deal, ConAgra is joining forces with Horizon Milling LLC - a joint operation between Cargill and CHS that already is the largest flour miller in theUnited States. The deal was first made public in March 2013 and was initially expected to close late last year.