AB InBev Issues Statement on Talks with DoJ
Anheuser-Busch InBev (NYSE: BUD), Grupo Modelo, S.A.B. de C.V., Constellation Brands, Inc. (NYSE: STZ) and Crown Imports LLC have made substantial progress in their discussions with the U.S. Department of Justice toward resolution of the Department of Justice's litigation relating to AB InBev's proposed acquisition of the remaining stake in Grupo Modelo it does not already own, based on the terms of the revised transaction announced on 14 February 2013.
Today the companies and the Department of Justice jointly approached the Court to request an extension of the stay on their current litigation, currently due to expire on March 19, 2013, to April 9, 2013. The parties agree that an extension of the current stay will likely enable the parties to complete their discussions. If the parties reach an agreement, they will file a proposed consent judgment and related documentation with the Court. There can be no assurance that the ongoing discussions will be successful.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.