A-B InBev’s statement on U.S. Department of Justice’s antitrust lawsuit in Modelo deal

a-b inbev modelo corona mergerNews just came out the U.S. Department of Justice is going to battle with A-B InBev over its proposed purchase of Grupo Modelo. A-B InBev just released a statement (below)…

The U.S. Department of Justice’s action seeking to block the proposed combination between AB InBev (Euronext: ABI; NYSE: BUD) and Grupo Modelo is inconsistent with the law, the facts and the reality of the market place. On 29 June 2012, the companies announced an agreement under which AB InBev will acquire the remaining stake in Grupo Modelo that it does not already own. 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. We will comment further once we have reviewed the DOJ filing.

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