Thai Union cans Bumble Bee deal, calls off bidding process for Chicken of the Sea

Thai Union Group on Friday announced it terminated its planned acquisition of Bumble Bee Seafoods, ending a year-long process of delays waiting for approval from the US Department of Justice (DOJ) to clear the deal.

The company said it came to the decision with Lion Capital, the private equity owner of the group.

"Over the course of last 12 months, both the company and Lion Capital have vigorously advocated the merits of the deal to the US Department of Justice," the company wrote.

However,