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February 8, 2013
14:47 EDTBUD, STZConstellation Brands, Crown file legal motion to defend interests
Constellation Brands (STZ) and Crown Imports said they filed a Motion to Intervene in U.S. District Court for the District of Columbia to ensure the companies interests are represented as part of the U.S. Department of Justice's complaint against the proposed Anheuser-Busch InBev (BUD) acquisition of Grupo Modelo. Constellation has a separate proposed transaction with AB InBev to fully acquire Crown, currently a 50/50 joint venture with Modelo. Constellation and Crown were not named as part of the Jan. 31, 2013 DOJ complaint; however, they said the complaint directly impacts both companies. This motion will seek to permit Constellation and Crown to have direct access to the legal proceedings. Constellation and Crown argue the transactions are good for beer consumers as Crown will be a stronger competitor in the U.S., and states the deals will improve competition in the U.S. beer industry.
News For STZ;BUD From The Last 14 Days
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November 24, 2014
09:02 EDTBUDSABMiller to enter Brazilian market, Telegraph says
SABMiller (SBMRY) agreed to a deal with a local Brazilian brewer and will compete against AB InBev (BUD), reports the Telegraph. Reference Link
November 19, 2014
20:12 EDTBUDAB InBev cutting jobs, consolidating sales division in U.S., WSJ reports
Anheuser-Busch InBev confirmed in a statement that it is cutting jobs and consolidating its sales division in the U.S., according to the Wall Street Journal, but declined to specify how many jobs are being cut. Reference Link
November 14, 2014
07:47 EDTBUDAB InBev CEO says willing to deal but only at right price, Bloomberg reports
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November 11, 2014
11:33 EDTBUDSABMiller may look for takeover, expansion stable of beers, WSJ says
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