Navigate this market better. Subscribe for FREE stock alerts and information.

Thursday, January 31, 2013

AB InBev says to vigorously contest DOJ challenge to Modelo buy, (NYSE: BUD)

Anheuser-Busch InBev, the world's largest brewer, said on Thursday it would "vigorously" contest a U.S. Justice Department lawsuit seeking to block it from taking full control of Mexican brewer Grupo Modelo . AB InBev said the Department of Justice's action was "inconsistent with the law, the facts and the reality of the market place."

Anheuser Busch Inbev SA is a brewing company. The Company produces, markets, distributes and sells a balanced portfolio of approximately 200 beer brands. Shares of BUD fell by 6.08% or $-5.72/share to $88.42. In the past year, the shares have traded as low as $62.59 and as high as $94.49. On average, 885518 shares of BUD exchange hands on a given day and today's volume is recorded at 5439263.