The Federal Trade Commission last week announced it is seeking a preliminary injunction to halt the merger of Nestle Holdings Inc. and Dreyer’s Grand Ice Cream.
The FTC alleges the merger, which boosts Vevey, Switzerland-based Nestle’s market share to 60 percent, would hurt competition and boost ice cream prices for premium brands such as Nestle’s Haagen Dazs and Dreyer’s Godiva.
Last summer, Nestle announced it planned to increase its stake in Oakland, CA-based Dreyer’s from 23 percent to 67 percent as part of a $2.8 billion deal that would eventually lead to full ownership (PROMO August 2002).
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