Arab Today, arab today us sues to block 20bn ab inbev takeover of modelo
Last Updated : GMT 17:20:01
Arab Today, arab today
Arab Today, arab today

US sues to block $20bn AB InBev takeover of Modelo

Arab Today, arab today

Arab Today, arab today US sues to block $20bn AB InBev takeover of Modelo

Washington - AFP

US antitrust authorities sued Thursday to block the $20.1 billion takeover of Mexican brewer Grupo Modelo by Belgian-US giant Anheuser-Busch InBev, saying the combined firm would have too much power over the US beer market. The move put on hold the takeover announced last June that would give the combined company, with brands like Budweiser, Stella Artois and Corona, a 46 percent hold on the US market, according to the Justice Department, and a bigger lock on Mexico\'s. The US Justice Department said the suit \"seeks to prevent the companies from merging and to preserve the existing head-to-head competition between the firms that the transaction would eliminate.\" \"If ABI fully owned and controlled Modelo, ABI would be able to increase beer prices to American consumers,\" said Bill Baer, the assistant attorney general who heads the Justice Department\'s anti-trust division. \"This lawsuit seeks to prevent ABI from eliminating Modelo as an important competitive force in the beer industry.\" The proposed merger quickly raised worries over consolidation in the beer market when it was announced last June. ABI aleady holds 50 percent of Modelo in a non-controlling stake and proposed to purchase the rest in the cash deal. Part of the cost would be covered by ABI selling to US group Constellation Brands its half of the capital of the US importer of Corona, Crown Imports, for $1.85 billion. Constellation Brands already owns half of the importing firm. But that deal, too, is now on hold because of the Justice Department lawsuit. ABI shares fell 6.7 percent on the Nasdaq after the news, while Constellation plunged 18.5 percent. In Mexico, Modelo shares sank 7.5 percent. In a statement, ABI criticized the suit as \"inconsistent with the law, the facts and the reality of the market place.\" e\"We remain confident in our position, and we intend to vigorously contest the DOJ\'s action in federal court. Given today\'s development, we no longer expect the deal to close during the first quarter of 2013.\"

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us sues to block 20bn ab inbev takeover of modelo Arab Today, arab today us sues to block 20bn ab inbev takeover of modelo

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 05:26 2017 Sunday ,19 February

US natural gas market tightens

GMT 05:06 2017 Sunday ,19 February

Merkel: Euro is too low for Germany

GMT 04:58 2017 Sunday ,19 February

Swedish PM: Brexit deal in 2 years is unlikely

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 15:16 2017 Sunday ,19 February

Apple to start India operations with iPhone SE

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday