Constellation Brands drops after U.S. sues to block Modelo takeover Constellation Brands (STZ) shares dropped after Bloomberg reported that the Department of Justice filed suit against AB InBev (BUD) to block the company's planned takeover of Grupo Modelo. Recall that A-B InBev last June signed a pact to import Modelo products to the U.S. through (STZ) Constellation Brands to address antitrust concerns.
AB InBev announces $1B share buyback program The board has approved a share buyback program for an amount of $1B, which will be conducted during the course of this year. The company's current intention is to use the shares acquired to fulfill its various share delivery commitments under the stock ownership plan. The program will be executed under the powers granted at the General Meeting of Shareholders on April 30.
JPMorgan to hold a conference Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link