Share “Corona-Bud revise deal to appease regulators”

Corona-Bud revise deal to appease regulators

Published on NewsOK Modified: February 14, 2013 at 4:46 pm •  Published: February 14, 2013
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Anheuser-Busch was purchased by Belgium's InBev in 2008. The combined company is already the world's biggest brewer and makes Budweiser, Beck's and Stella Artois, among others.

Last month the Justice Department filed a lawsuit to block the deal, saying that one company controlling nearly half of all U.S. beer sales would stifle competition and increase prices.

On Thursday, AB Inbev said the sale of the brewery which supplies the domestic market would give Crown total control over supply.

"We believe this revised agreement addresses all of the concerns raised by the U.S. Department of Justice in its lawsuit, leaving no doubt about Constellation's Crown beer division's complete independence and ability to compete," InBev said in a statement released Thursday.

U.S.-traded shares of AB InBev rose $4.50, or 5.1 percent, to close at $92.76 Thursday, while Constellation's stock ended up $11.87, or 37 percent, at $43.75, its highest close in at least two decades.