It looks like the Hormel folks in Spamtown USA might be able start spreading the peanut butter goodness in the near future.
Remember the deal where Austin-based Hormel made a deal with Unilever to buy the Skippy peanut butter brand for $700 million?
Well, the Federal Trade Commission granted Hormel's request for "early termination" this week. In case, like myself, you aren't sure what 'early termination' means, here's what that means:
Any person filing an HSR form may request that the waiting period be
terminated before the statutory period expires. Such a request for
"early termination" will be granted only after compliance with the rules
and if both the Federal Trade Commission and Department of Justice
Antitrust Division have completed their review and determined not to
take any enforcement action during the waiting period. In some
instances, after a Request for Additional Information and Documentary
Material has been issued, the investigating agency will determine that
no further action is necessary and terminate the waiting period
before full compliance with the Second Request is made.
So it sounds like a good thing. The deal has been given the green light to speed ahead.
Can the new peanut butter favored Spam be far away? Heh.