Saudi Stake Clouds $2.3 Billion Meat Deal After BRF Approval (2)

Shareholders of BRF SA approved a $2.3 billion takeover by Marfrig Global Foods SA, but an antitrust probe into Saudi ownership of Brazilian meat companies is clouding the outlook for the deal.

The proposed merger would combine the two Brazilian companies into one operation rivaling the world’s top food suppliers. The deal received the green light from BRF and Marfrig shareholders on Tuesday, according to a statement.

But the timing of the merger is now in question. That’s because Brazil’s antitrust regulator is considering subjecting the transaction to further scrutiny, having asked the Saudi Agricultural and Livestock Investment ...