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SAO PAULO (Reuters) - Brazilian beef producer Marfrig Global Foods SA tried to acquire control of rival Minerva SA before it announced late on Friday it had bought a stake in poultry and pork processor BRF SA, a person with knowledge of the matter told Reuters on Monday.
FILE PHOTO: A worker cuts up joints of beef at the Marfrig Group slaughterhouse in Promissao, 500 km northwest of Sao Paulo October 7, 2011. REUTERS/Paulo Whitaker
The source, who requested anonymity to disclose private discussions, said the talks were interrupted last week, after Marfrig took the stake in BRF, due to concerns about potential problems with Brazilian antitrust agency CADE.
Brazilian meatpackers JBS SA and BRF SA both acknowledged on Thursday that they are struggling to pass on higher feed costs to consumers in their home market although JBS sounded a more bullish tone given its big U.S. exposure.