EU reviews Cargill's US$440m deal for ADM chocolate unit

Brussels

THE European Commission said on Monday it had opened an in-depth investigation into Cargill's planned acquisition of Archer Daniels Midland Co's chocolate business, citing concerns the deal could lead to higher prices.

The EU executive said it had until July 8 to investigate Cargill's planned US$440 million acquisition, designed to expand the commodity trader's production capacity in North America.