Market Overview

AB InBev Issues Statement Related to Discussions with DoJ

Share:
Related BUD
Jim Cramer Advises His Viewers On Anheuser Busch, Brown-Forman And Molson Coors
Evercore Analyst Pours Cold Water On Diageo-Anheuser Busch Rumor
Celebrate July 4th With American Beer Stocks (BUD, TAP, BREW & SAM) (Small Cap Network)
Related STZ
Constellation Brands CEO Weighs In On Meiomi Acquisition, Booming Beer
Mid-Day Market Update: Chubb Surges Following Announcement of Acquisition by Ace; Ballard Power Shares Decline
Diageo Sells Off Luxury Hotel Gleneagles: More in the Cards? - Analyst Blog (Zacks)

Anheuser-Busch InBev (NYSE: BUD), Grupo Modelo, S.A.B. de C.V, Constellation Brands, Inc. (NYSE: STZ) and Crown Imports LLC have reached an agreement in principle with the U.S. Department of Justice on a proposed resolution to the Department of Justice's litigation challenging AB InBev's proposed acquisition of the remaining stake in Grupo Modelo that it does not already own. The proposed resolution is substantially in line with the revised transaction announced on February 14, 2013.

In connection with this agreement, the parties and the Department of Justice have jointly approached the Court and requested an extension of the stay of the proceedings until April 23, 2013. This stay will allow the parties to finalize the details of a proposed consent judgment and the related definitive agreements and papers required for settlement. The parties stated in their filing with the Court that they expect for this to be their final request to extend the stay. Approval of the transaction, and the timing of such action, remain subject to the finalization of the relevant documentation with the DOJ and other parties, and approval by the Court.

The revised transaction with Constellation remains subject to regulatory approval in Mexico.

Posted-In: News Legal

 

Related Articles (STZ + BUD)

Around the Web, We're Loving...

Get Benzinga's Newsletters