WASHINGTON – The U.S. Justice Department has filed a lawsuit seeking to stop Anheuser-Busch InBev SA from buying the half of Mexican brewer Grupo Modelo that it does not already own, saying the US$20.1-billion deal would lessen competition in the U.S. beer market.
Trading in Constellation Brands, which would have become sole owner of the company that distributes Modelo’s Corona beer in the United States if the transaction had been approved, was halted after it dropped 23.8%.
By Dutch Trader: In my March article "Anheuser-Bush Inbev: Strong Results and A Great Buy" I already was quite positive about the company. Back in March the stock was trading around $68. Right now the stock is trading around $80. Time to wait?
Beer giant AB InBev said on Friday that it would buy the half of Mexican firm Grupo Modelo, maker of Corona, which it does not already own for $20.1 billion in cash (16.0 billion euros).The deal will be done on the basis of $9.15 per share, representing a premium of 30.0 percent on the price on June 22 before the first rumours of the transaction.InBev said it expected the operation to generate savings of more than $600 million per year.Grupo Modelo will retain its name, and its headquarters in Mexico.
BRUSSELS (Reuters) - Anheuser-Busch InBev, the world's biggest brewer, said it would swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest of a string of deals by big brewers looking for growth in emerging markets.
Anheuser-Busch InBev, the world's biggest brewer, said it would swallow the half of Grupo Modelo it does not already own for $20.1 billion in the latest of a string of deals by big brewers looking for ...
NEW YORK (Reuters) - Anheuser-Busch InBev , the world's biggest brewer and maker of Budweiser and Stella Artois beers, is in talks to buy the 50 percent of Corona beer maker Grupo Modelo that it does not already own, said a person familiar with the matter - in a potential deal that could top $10 billion. Belgium-based Anheuser-Busch InBev owns a 50 percent non-controlling stake in Modelo, Mexico's largest brewer, which has a market value of roughly $23 billion. ...
By Zvi Bar:On January 31, the U.S. Department of Justice filed a lawsuit to block the proposed $20.1 billion purchase of Grupo Modelo (GPMCY.PK) by Anheuser-Busch InBev (BUD), claiming that the deal would hurt competition and raise prices.