The U.S. Justice Department has filed a lawsuit seeking to stop Anheuser-Busch InBev SA from buying the half of Mexican brewer Grupo Modelo that it does not already own, saying the $20.1 billion deal would lessen competition in the U.S. beer market.Trading in Constellation Brands, which would have become sole owner of the company that distributes Modelo's Corona beer in the United States if the transaction had been approved, was halted after it dropped 23.8 percent.AB InBev shares dropped as much as 8.0 percent to a three-month low and were the weakest performers in the FTSEurofirst 300 index of leading European stocks.Shares in Mexican brewer Grupo Modelo fell to a seven-month low, down 9.5 percent to 105 pesos on the Mexican exchange.
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 6.96% or $-6.55/share to $87.59. 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 8346720.
Constellation Brands, Inc. is a wine company. The Company is a marketer of imported beer in the United States. Shares of STZ fell by 18.97% or $-7.43/share to $31.74. In the past year, the shares have traded as low as $18.50 and as high as $39.65. On average, 1917850 shares of STZ exchange hands on a given day and today's volume is recorded at 18093098.
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