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Mega-Brew Merger Deal Halted?

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Mega-Brew Merger Deal Halted?

In a developing story, the mega-brew merger deal between Anheuser Busch Inbev SA (ADR) (NYSE: BUD) and SABMiller plc (ADR) (OTC: SBMRY) has been halted temporarily. Beer stocks are down sharply from the news after a report came out instructing SABMiller to halt its integration with Anheuser Busch Inbev.

The news comes just one day after Anheuser Busch Inbev upped its bid for SABMiller to $103.6 billion in response to the weakened British pound due to Brexit. News of the halted deal, which was the largest in the history of the industry, has sent shock waves throughout the entire beer industry Wednesday.

Related Link: Anheuser-Busch InBev Raises Offer For SABMiller From £44 To £45 Due To Brexit Impact

Movements

  • Anheuser Busch Inbev was seen down 3.63 percent at $122.01.
  • Molson Coors Brewing Company (NYSE: TAP), down 5.31 percent at $92.90.
  • Constellation Brands, Inc. (NYSE: STZ), down 1.38 percent at $163.11.

Benzinga will follow up on this story as more details emerge.

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