Brasil Foods stock drops 6 percent on vote against merger

Food processor Brasil Foods' stock dropped 6% on June 9 after a member of Brazil's antitrust regulator voted against the 2009 merger of Sadia and Perdigao that resulted in Brasil Foods' creation. The director who voted against the merger said Brasil Foods would have too much power to influence prices.

Food processor Brasil Foods' stock dropped 6% on June 9 after a member of Brazil's antitrust regulator voted against the 2009 merger of Sadia and Perdigao that resulted in Brasil Foods' creation.

The director who voted against the merger said Brasil Foods would have too much power to influence prices. Four board members have yet to cast their votes on the merger, and Brasil Foods representatives plan to convince them of the benefits of the company's existence and find solutions to avoid any threats to competition, said Wilson Mello, vice president for institutional relations. 

As of 10:19 a.m. EDT, Brasil Foods' stock was at R$25.25 (US$16.01) per share.

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