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