Food Roundup: CPI-Bunge Merger Fails, New Philly Labeling Law, Anheuser-Busch Settles Lawsuits, and More

CPI board to withdraw Bunge merger support – Corn Products International has notified Bunge of its intent to withdraw its support for a planned merger. Bunge can either terminate the agreement and seek compensation from CPI, or force a meeting of CPI stockholders to vote on the issue. [Source: FoodNavigatorUSA]

Philadelphia passes restaurant law — As of Jan. 1, 2010, Philly restaurants with 15 or more outlets will have to list the amount of calories, saturated fat, trans-fat, carbs and sodium in their menu items. New York City and the state of California have similar laws. [Source: Philadelphia Inquirer]

Anheuser-Busch settles shareholder lawsuits — The brewery announced Friday it has settled all suits related to its possible sale to InBev, which shareholders are scheduled to vote on next Wednesday. The settlement is still subject to approval by the Delaware Court of Chancery. [Source: AP]

MillerCoors to cut 350 additional jobs — Since they began integrating operations in July, Coors and Miller have cut nearly 270 jobs and may cut up to 350 more over the next six months. The MillerCoors joint venture plans to reduce spending by $500 million over the next three years. [Source: AP]