AP News

News Summary: DOJ and beer makers reach agreement


WHAT HAPPENED: Anheuser-Busch InBev and several other beer makers reached a final agreement with the U.S. Department of Justice that could settle a dispute over AB InBev's proposed $20.1 billion acquisition of Mexican brewer Grupo Modelo.

WHAT IS NEW: The agreement requires the sale of all of Modelo's U.S. business to competitor Constellation Brands for the deal to move forward. Constellation will be able to brew and sell Modelo brands, such as Corona, in the U.S. AB InBev, the world's largest brewer, will add Modelo's brands in other global markets.

WHAT IS NEXT: The companies submitted the settlement to the court Friday and if it is approved, the deal would be complete in June.


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