Packers deny merger agreement rumours
16/03/2010
Rumours in Brazil of an agreement to merge between packer and tanning companies Minerva and Marfrig have pushed the share prices of both companies higher, but have provoked a formal denial from both head offices.
Minerva issued an official statement saying it wanted to “state vehemently that no contact, negotiation or agreement is in train between Minerva and any other country in the sector”.
At the same time, Marfrig confirmed that it had not opened discussions on a merger with Minerva.
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