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Beer shakeup: Constellation Brands (STZ -24.2%) dives after the DOJ files suit against...
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Thursday, January 31, 10:44 AM ETBeer shakeup: Constellation Brands (STZ -24.2%) dives after the DOJ files suit against Anheuser-Busch InBev (BUD -5.1%) to block its takeover of Grupo Modelo. A no-go on the A-B deal is bad for Constellation Brands because it was all set to export Modelo to the U.S. so that the deal might be more palatable to regulators. According to the Nasdaq website, STZ is currently halted for hitting a volatility level.
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This news story has 7 comments:
In-Bev has been buying beer brands, hand over fist. Only to take those brands and kill them with cost cutting.
Bass Ale and Becks are now no longer even imported, and produced in the US to much lower standards.
I, of all people am the last person to approve of Gov't intervention in free markets. But In-Bev needs to be contained at this point.
Their market share has been approaching near monopoly levels.
Once in a while, Gov't does something good.
This is one of such rare instances.