Danish Crown and Tican are set to go to arbitration after Tican claimed it is due compensation following the failure of a proposed merger between the two companies, it has been reported in the press.
The two Danish cooperative slaughterhouse companies were set to merge last year, however the deal was called off in November 2015 because it was not approved by Danish competition authorities within the stipulated deadline.
A statement from Danish Crown’s chief financial officer, Preben Sunke, said: “We have had good dialogue with Tican since we had to abandon the merger. Unfortunately it has not yet been possible to find an amicable solution and now Tican has chosen to let an arbitrator decide the case.”
Following the collapse of the Tican and Danish Crown merger, an agreement for German food company, Tönnies Holding, to take over Tican was put in place. The deal was approved by the EU’s competition authorities in February 2016.
This story was originally published on a previous version of the Meat Management website and so there may be some missing images and formatting issues.
