August 4, 2020

Tyson Foods reveals investigation by US antitrust unit

Tyson Foods Inc. has said in a filing that it is under investigation by the US Department of Justice's Antitrust Division, MarketWatch reported on August 3.

Tyson received a notice of the investigation on May 22, which is focused on its beef and cattle packing markets.

The company added that it has been cooperating with the investigation.

This week, Tyson reported fiscal third-quarter earnings that beat expectations. The company's stock has gained nearly 3% in Monday trading, but has slumped 30.5% for the year to date.

- MarketWatch