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Justice Department Acts to Stop AB InBev from Grupo Modelo Purchase

By January 31, 2013Top News

The Justice Department filed a lawsuit to stop Anheuser-Busch InBev from buying Grupo Modelo alleging that the $20.1 billion purchase would “substantially lessen competition in the market for beer in the United States as a whole” and result in consumers “paying more for beer and having fewer new products from which to choose,” according to the Justice Department. AB InBev released a statement saying the action “is inconsistent with the law, the facts and the reality of the market place.” On June 29, 2012 the companies announced an agreement under which AB InBev would 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,” said the statement issued via newswire.

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