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Friday, February 8, 2013

Constellation, Crown file motion in U.S. government Modelo suit, (NYSE: STZ)

Constellation Brands Inc and U.S. beer distributor Crown Imports filed a motion on Friday to ensure their interests are represented as part of the U.S. government's complaint against Anheuser-Busch InBev's proposed takeover of Grupo Modelo. The Motion to Intervene, filed in U.S. district court for the District of Columbia, seeks to allow Constellation and Crown direct access to the legal proceedings. They were not named as part of the complaint, though the complaint directly affects both companies, they said.

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 0.85% or $0.27/share to $31.86. In the past year, the shares have traded as low as $18.50 and as high as $39.65. On average, 3034670 shares of STZ exchange hands on a given day and today's volume is recorded at 3414563.