Recent

% | $
Quotes you view appear here for quick access.

ML Macadamia Orchards LP Message Board

  • rz400 rz400 Aug 14, 2004 1:45 PM Flag

    AP - 8-13-2004 - Honolulu

    "Mac nut growers may sue over merger"
    Excerpts - 6 out of the 650 growers on Big Island are threatning to seek court action if the State Att. Gen.doesn't block the merger of the states 2 largest nut processors..... NUT last announced last month it was buying the processing and marketing assets of the second largest grower - MacFarms of Hawaii... NUT markets & processes nuts but doesn't grow them, While MacFarms is the states 2nd largest groer & processor. // The 6 growers contend the merger would violate antitrust laws by creating a monopoly... They worry that NUT will have 80 percent of the processing capacity. The next largest competitor will have 10 percent... growers worry they will have no ability to get competition among processors. // The state Att.Gen. is looking into possible antitrust violations, but has yet to take action... NUT attorney, (a former Att.Gen.) says - We have had ongoing discussions with the A.G. and we have repeatedly indicated that we are looking to meet with them and discuss any issues they are concerned about, with regards to their investigation. // The att. for the growers said they would sue if something doesn't happen in the next few weeks... NUT can't close the transaction before Sept.-10 which is 60 days after MacFarms employees were notified of merger.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
NNUTU
3.100.00(0.00%)