After Revision, DOJ May Sign Off on Beer Merger
A revision to the proposed $20.1 billion merger of
Anheuser-Busch InBev and Grupo Modelo purchase may stay federal
antitrust proceedings until March 19.
This January, the Justice Department
filed an antitrust complaint against Budweiser producer
Anheuser-Busch InBev as it planned to acquire Grupo Modelo, maker
of the country's best-selling imported beer, Corona.
The federal complaint, filed in the
District of Columbia, sought to block the merger and preserve the
competition for the nation's $80 billion annual beer market.
"Because of the size of the beer
market in the U.S., even a small increase in the price of beer
could result in billions of dollars of harm to American consumers,"
the Justice Department said in a statement.