Anheuser-Busch InBev, the world's largest brewer, has revised the terms of its $20.1 billion takeover of Mexico's Grupo Modelo in hopes of ending U.S. Department of Justice concerns that the deal would mean higher prices for U.S. beer drinkers.Shares of the three companies involved in the deal closed higher.The U.S. antitrust agency filed a lawsuit last month to block the deal between the makers of Budweiser and Corona on grounds that it removed an independent competitor and opened the door to higher prices.The Justice Department had argued that AB InBev's plan to sell its 50 percent share of U.S. beer importer Crown Imports to the world's largest wine company Constellation Brands was inadequate since AB InBev would still have supplied Crown with Corona and other Modelo beers and had the option every 10 years to purchase the whole of Crown.
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 traded higher by 5.1% or $4.5/share to $92.76. In the past year, the shares have traded as low as $64.48 and as high as $94.49. On average, 1330040 shares of BUD exchange hands on a given day and today's volume is recorded at 5066558.
Constellation Brands, Inc. is a wine company. The Company is a marketer of imported beer in the United States. Shares of STZ traded higher by 37.23% or $11.87/share to $43.75. In the past year, the shares have traded as low as $18.50 and as high as $39.65. On average, 3138060 shares of STZ exchange hands on a given day and today's volume is recorded at 50288704.
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