A PYMNTS Company

US: AB InBev said to win antitrust approval for SABMiller deal

 |  July 20, 2016

Anheuser-Busch InBev NV won US antitrust approval for its takeover of SABMiller Plc, after the maker of Budweiser agreed to give up ownership of the Miller brand, Bloomberg said.

The Justice Department’s antitrust division is expected to announce a settlement agreement later Wednesday allowing the merger, said two people, who asked not to be named because the agreement isn’t public.

The agreement to allow the brewing juggernauts to combine runs counter to the government’s moves against other big deals in the past year — the Justice Department and the Federal Trade Commission have killed proposed tie-ups in the cable, office supplies and oil drilling industries, among others. In this case, the companies proposed asset sales from the start that resolved antitrust officials’ concerns that the deal would harm competition.

Full Content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.