ConAgra Foods Inc, Cargill Inc and CHS Inc won U.S. antitrust approval on Tuesday to merge their North American flour mill operations after agreeing to sell four mills to a Japanese company.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. The combined company will be called Ardent Mills.Horizon Milling is already the largest U.S. flour miller, Archer Daniels Midland is the second-largest and ConAgra is No. 3.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, which is a subsidiary of Nisshin Seifun Group Inc .
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 0.33% or $-0.1038/share to $31.27. 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 996690.
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