Home   News   Schools   Sports   Biz   Opinion   Health   Scitech  Arts   Dining   Movies   Outdoors   Weather   Comics   Archives  NM Jobs Cars Real Estate

          Front Page  news  state

Thursday, November 13, 2008

N.M. Joins Lawsuit Against Brazilian Beef Packer


Associated Press
      SANTA FE — State Attorney General Gary King has joined the U.S. Department of Justice and other attorneys general in an antitrust lawsuit against Brazilian beef giant JBS SA.
    The Justice Department filed a lawsuit last month to block JBS from buying the nation's fourth-largest beef processor, National Beef Packing Co. of Kansas City, Mo., in a deal worth $560 million in cash and stock.
    Federal regulators and attorneys general from a total of 17 states say the deal could push up costs for consumers and drive down prices paid to ranchers and feedlots.
    King said without competition in the marketplace, JBS would have an unfair advantage and that's not in the best interest of New Mexicans.

Copyright ©2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.