ConAgra Foods Inc, Cargill Inc and CHS Inc won U.S. antitrust approval on Tuesday to merge their North American flour mill operations after recently agreeing to sell four mills to a Japanese company.To secure Justice Department approval, the grain and food-handling companies agreed to sell four mills to Miller Milling Co, a U.S.-based unit of Tokyo-based Nisshin Flour Milling Inc.The mills to be sold are Horizon's facility in Los Angeles and ConAgra's facilities in Oakland, California; Saginaw, Texas; and New Prague, Minnesota.The companies had announced in March 2013 that ConAgra Foods Inc would join Horizon Milling, a joint venture of Cargill Inc. and CHS Inc. that is the largest flour miller in America. CHS is owned by farmers and cooperatives.
ConAgra Foods, Inc. is a packaged food company. The Company operates in four segments: Consumer Foods, Commercial Foods, Ralcorp Food Group, and Ralcorp Frozen Bakery Products. Shares of CAG fell by 0.26% or $-0.08/share to $31.29. In the past year, the shares have traded as low as $28.09 and as high as $37.28. On average, 3095650 shares of CAG exchange hands on a given day and today's volume is recorded at 570316.
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