Attorney General Long Announces the Termination of the JBS/ National Beef Transaction
PIERRE, S.D.- Attorney General Larry Long said today that JBS Beef S.A. has terminated its effort to acquire National Beef Packing Co. This announcement comes as welcome news to South Dakota beef producers and consumers. Last October, Attorney General Long and 16 other attorneys general joined the Department of Justice in a lawsuit to block the merger. The concern was that the merger would give JBS concentrated market power that would have a negative impact upon cattle ranchers, feed lot operators, and ultimately the consumer.
“My office joined the antitrust lawsuit to stop the merger last fall, said Long. “It was a necessary step to keep competitive pricing in the beef processing industry. I believe the termination of the transaction is the best result possible for the industry.”South Dakota Secretary of Agriculture Bill Even stated, "South Dakota cattle producers won a victory today and I thank Attorney General Long for his work in opposing the JBS - National Beef merger."