News Summary: Constellation shares sink over suit

January 31, 2013 @ 9:38 am

(AP) - THE TRIGGER: Shares of Constellation Brands fell after the Justice Department sued to block Anheuser-Busch InBev's proposed purchase of Mexican brewer Grupo Modelo, which the government said could lead to higher beer prices for Americans.

THE BACKGROUND: It hurts Constellation's related $1.85 billion deal that would give it greater U.S. control of Corona and other beers. Constellation was to buy the remaining half of a joint venture with Grupo Modelo.

THE ISSUE: The government noted that Anheuser-Busch InBev could end a deal to supply Modelo brands to Constellation after 10 years and retain the Modelo brands and its brewing facilities.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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