🔴 B&G Foods is trading 5% down today after Canada seeks to block Green Giant sale

B&G Foods is trading 5% down at $3.37 after Canada’s Competition Bureau asked the Competition Tribunal to block the proposed sale of its Canadian Green Giant and Le Sieur businesses to Nortera.

• The bureau cited risks of higher prices and fewer choices.
• B&G Foods said it disagrees and is evaluating legal, regulatory, and operational alternatives.
• Broader weakness in consumer staples and major indexes is adding pressure.