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Constellation Brands Inc. (STZ) Leaped To A New High After Divestiture

Constellation Brands Inc. (STZ: Quote) and Anheuser-Busch InBev (BUD: Quote) announced a revised agreement that establishes Crown Imports as the #3 producer and marketer of beer in the U.S. through a complete divestiture of Grupo Modelo's U.S. business.

Constellation Brands gapped open sharply higher Thursday and climbed in early trade, before settling into a range. The stock finished up by 11.87 at $43.75 on strong volume and set a new high for the year.

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by RTT Staff Writer

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