White Wave Appealing Dismissal

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White Wave Appealing Dismissal

 

http://dailynews./h/ap/20011219/bs/white_wave_suit_1.html

 

DENVER (AP) - Soy products maker White Wave plans to appeal the dismissal of its

federal lawsuit seeking to block the merger of the nation's two biggest dairy

processors.

 

Boulder-based White Wave sued Dean Foods and Suiza Foods Corp. after they

announced plans to merge. A subsidiary of Dean, based in Franklin Park, Ill.,

owns 36 percent of White Wave's privately held common stock, which White Wave

wanted to buy back.

 

White Wave on Wednesday filed a notice of appeal in U.S. District Court in

Denver. The company also asked the court to prevent Dean from transferring the

stock to Suiza while the appeal is pending.

 

White Wave's Silk brand commands 79 percent of the U.S. soy milk market.

Dallas-based Suiza makes Sun Soy, Silk's closest competitor.

 

The lawsuit said the merger would give Suiza effective control of White Wave and

thwart White Wave management's intent to prevent a direct competitor from

obtaining control over its business.

 

U.S. District Judge Richard Matsch dismissed the case Dec. 10, saying White Wave

had not sought enough protection when it entered a partnership with the Dean

subsidiary in 1999.