Constellation Brands Inc asked to be joined as a defendant in the U.S. government's lawsuit to block Anheuser-Busch InBev's proposed takeover of Corona beer maker Grupo Modelo, seeking to protect its own interests in the mega merger.As part of AB InBev's plan to purchase the half of Modelo it does not own for $20.1 billion, Modelo would sell its half of the Crown Imports joint venture to its partner, Constellation, for $1.85 billion.But if the deal falls apart as a result of the action by the U.S. Department of Justice, Modelo would likely seek to buy Constellation's stake in Crown, since it has signaled its intention to do so from the start and renewed its intention recently, the motion shows.That would be a huge loss to Constellation, leaving it with mostly a wine business, which has agricultural volatility and little brand loyalty. At the time the deal was announced, analysts called it a "game-changer" for Constellation.
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 0.82% or $0.26/share to $31.85. 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 4908434.
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