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US: $20B fight for Corona beer continues

By  |  March 15, 2013
US: $20B fight for Corona beer continues

The long drawn-out attempt for AB InBev to acquire Grupo Modelo, a deal that resulted in the Department of Justice filing a suit to block the merger, could be extended even further. According to reports, Anheuser-Busch InBev and Constellation Brands, the latter of which is looking to sell its remaining 50 percent stake in Grupo Modelo for more than $20 billion, have requested with the DOJ another extension of the case. The parties are reportedly seeking more time to settle. March 19 was the deadline set when the parties agreed to request a delay of all proceedings; since, Constellation and AB InBev have reported “substantial progress” in settling with the DOJ but have requested a new deadline of April 9 to finalize negotiations.

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