When Thai Union Group agreed to buy the Bumble Bee tuna brand from private equity fund Lion Capital for $1.5 billion in December 2014, the company appeared to be on the brink of achieving Chief Executive Officer Thiraphong Chansiri’s goal of becoming the world’s top seller of branded shelf-stable seafood sold in cans and pouches. Now, almost a year later, the Thai company, which owns Chicken of the Sea and top European brands, is still waiting to close the deal—and the uncertainty is weighing it down. In August, Thiraphong said he expected a decision from U.S. antitrust regulators within six weeks. That deadline passed. Now he says Thai Union should get word on Dec. 18. If...
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