Market Overview

Constellation Brands Responds to DoJ Action: Says Disappointed, No Longer Sees Deal Closing in Q1

Share:
Related STZ
Whiskey To Get Frisky In The Coming Years
UPDATE: Stifel Raises Price Target On Constellation Brands On Positive Risk/Reward
Related BUD
Why This Money Manager Just Added Budweiser, International Paper And Northrop Grumman To His Portfolio
#DeflateGate Isn't The Only Reason To Root Against The Patriots

Constellation Brands, Inc. (CBI), (NYSE: STZ) issued the following statement today in response to the U.S. Department of Justice's (DOJ) action concerning the proposed Anheuser-Busch InBev-Grupo Modelo transaction.

Constellation Brands is disappointed with the DOJ decision. The proposed transaction would further establish Crown Imports as a more independent and competitive entity and solidify its position as a major player in the U.S. beer industry. We will provide further comment when appropriate.

Given today's development, we no longer expect the deal to close during the first calendar quarter of 2013 but we ultimately look forward to an expeditious resolution.

Posted-In: News

 

Related Articles (STZ + BUD)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional