Anheuser-Busch InBev NV/SA (BUD, AHBIF.PK) said the court Monday signed the previously announced stipulation and order among the Belgian brewer, the Department Of Justice or the DoJ, Mexican peer Grupo Modelo, S.A.B. de C.V. (GMODELOC.MX) and Constellation Brands, Inc. (STZ), which resolves the DoJ's challenge to AB InBev's proposed acquisition of the remaining shares of Grupo Modelo that it does not already own.
AB InBev agreed in late June 2012 to acquire the remaining stake in Modelo by paying the Corona beer maker $9.15 per share in cash or about $20.1 billion.
In late January, the DoJ filed a civil antitrust lawsuit to block AB InBev's proposed $20.1 billion deal to acquire total ownership and control of Modelo, claiming the deal would result in less competition and higher beer prices for American consumers.
The DoJ said the deal would substantially reduce competition in the U.S. beer market as a whole and in 26 metropolitan areas across the country, resulting in consumers paying more for beer and having fewer new products from which to choose.
AB InBev's Bud Light is the best selling beer in the U.S. and Modelo's Corona Extra is the best-selling import. AB InBev and Modelo, the largest and third largest beer firms, respectively, together control about 46 percent of annual sales in the U.S.
AB InBev said earlier this month that along with Modelo, Constellation, and Crown Imports LLC , it has reached an agreement in principle with the DoJ to resolve the litigation. The parties approached the court and requested an extension of the stay of the proceedings until April 23 to thrash out final details of the settlement.
The parties had requested the court's signature of the stipulation and order on April 19. AB InBev expects to complete the transaction in June.
BUD closed down 0.2 percent on Monday at $99.02.
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