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Stock Market & Financial Investment News

News Breaks
February 1, 2013
09:15 EDTBUD, STZConstellation Brands responds further to DOJ action
Constellation Brands (STZ) issued the following statement in further response to the U.S. Department of Justice's action yesterday concerning the proposed Anheuser-Busch InBev (BUD) and Grupo Modelo transaction: "Constellation Brands believes the DOJ's action demonstrates its incomplete understanding of the proposed transaction for at least three primary reasons. Crown Imports, not Modelo, is AB InBev's competitor in the U.S. Corona and the other Modelo brands are sold in the U.S. by Crown Imports LLC, a joint venture currently owned 50/50 by Constellation Brands and Modelo...Constellation Brands' acquisition of Modelo's interest in Crown will improve competition. The proposed transaction will enhance Crown's status as an independent and competitive entity and will strengthen Crown's position as a growing competitor to AB InBev in the U.S. beer market. Crown will have complete, autonomous control as the brand owner in the U.S. with respect to its distribution, marketing, promotion and pricing of Corona and the other Modelo brands. Critical to Crown's success is its independent judgment in selecting and collaborating with the best distributor option available in each of Crown's markets...Crown will have even greater flexibility in responding to competitive factors in each of its markets. The new contract ensures that Crown will benefit from both long-term stability in costs of goods provided by AB InBev and from the operational excellence and global scale of the world's leading beer producer. As a result, Crown and consumers can benefit from the considerable efficiencies that are expected to be achieved by the AB InBev/Modelo transaction. Additionally, Crown will immediately have access to several more Mexican beer brands to sell in the U.S., and is guaranteed supply of a certain number of new products each year upon request...Finally, Crown is empowered to freely innovate and supplement its offerings in the U.S. beyond the Modelo portfolio at Crown's sole discretion."
News For STZ;BUD From The Last 14 Days
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December 16, 2014
17:03 EDTBUD, STZConstellation Brands, Owens-Illinois form JV
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December 10, 2014
06:31 EDTBUDAB InBev to move U.S. sales and marketing base from St. Louis, WSJ reports
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December 4, 2014
07:56 EDTSTZConstellation Brands price target raised to $111 from $98 at Stifel
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