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Stock Market & Financial Investment News

News Breaks
January 31, 2013
10:43 EDTBUD, STZ, SAM, TAPAB InBev, Constellation fall after U.S. sues to block Modelo takeover
(BUD) proposed acquisition of total ownership and control of Grupo Modelo. The department said that the $20.1B transaction would "substantially lessen competition in the market for beer in the United States as a whole and in 26 metropolitan areas across the United States, resulting in consumers paying more for beer and having fewer new products from which to choose." The department's lawsuit, filed in the U.S. District Court for the District of Columbia, seeks to prevent the companies from merging. The department’s complaint also alleges that ABI and Modelo efforts to remedy the anticompetitive aspects of their transaction are inadequate. The complaint states that ABI has agreed to sell Modelo’s existing 50% interest in Crown to its Crown joint venture partner, Constellation (STZ). ABI would also enter into an exclusive agreement to supply Constellation with Modelo beer to import into the United States, although ABI can terminate this supply agreement after 10 years and would retain the Modelo brands and its brewing and bottling facilities, the Justice Department added. Following the lawsuit, shares of AB InBev declined 5% to $89.19 while Constellation shares fell 28% to $28.37. Other beer suppliers declined, including Boston Beer (SAM) and Molson Coors (TAP).
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August 18, 2014
13:03 EDTTAPMolson Coors, Heineken expand marketing partnership in Canada
Molson Coors and Heineken announced that they have expanded their marketing partnership in Canada, whereby Molson Coors Canada will assume responsibility for distributing five additional Heineken brands in Canada. The new, multi-year agreement further strengthens the existing Molson Coors and Heineken relationship. In addition to Heineken, Murphy’s, Newcastle and Strongbow, Molson Coors Canada will assume the rights to market and sell Dos Equis, Sol, Tecate, Birra Moretti and Desperados. Beginning on January 1, 2015, Molson Coors Canada will have the rights to market and distribute these brands on behalf of Heineken. As part of the new agreement, Molson Coors has also agreed to extend the existing partnership with Heineken to distribute Coors Light in Ireland.
August 15, 2014
10:39 EDTSTZConstellation Brands issues statement regarding glass strategy
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August 14, 2014
10:05 EDTTAP, STZOn The Fly: Analyst Initiation Summary
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06:44 EDTSTZConstellation Brands initiated with a Neutral at Credit Suisse
Target $90.
06:44 EDTTAPMolson Coors initiated with an Outperform at Credit Suisse
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August 13, 2014
08:35 EDTSTZConstellation Brands to acquire Casa Noble tequila brand, terms not disclosed
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