Anheuser Busch gets more time to rework Grupo Modelo deal
updated 8:09 PM EST, Wed February 20, 2013
A federal judge in Washington Wednesday delayed proceedings to allow Anheuser-Busch to revise efforts to take over the brewers of Corona and Corona Light.
- Anheuser-Busch InBev revising takeover plan for Grupo Modelo
- Justice Department says takeover would increase beer prices
- Anheuser-Busch proposes selling Corona rights in U.S.
Washington (CNN) -- A federal judge in Washington Wednesday agreed to delay proceedings to allow Anheuser-Busch to revise its efforts to take over the Mexican brewers of Corona and Corona Light.
Judge Richard Roberts put off any court proceedings until March 19.
Last month Justice Department antitrust lawyers blocked Anheuser-Busch InBev from taking over Grupo Modelo of Mexico. The Justice officials argued that the merger of the nation's No. 1 brewer, makers of Budweiser and Bud Light, and the nation's third-largest brewer, Grupo Modelo, would be anticompetitive and harm consumers. The officials said beer prices would go up.
Anheuser-Busch then agreed to sell the rights to Corona and other Grupo Modelo brands in the United States to an independent company, Constellation Brands, a large wine company. It is unclear whether that $3 billion deal to sell the Corona rights would be enough to satisfy the Justice Department. The Anheuser-Busch merger with Grupo Modelo is estimated to be worth $20 billion.
Bud, Corona don't mix, Justice says
Part of complete coverage on
updated 12:39 PM EDT, Mon May 20, 2013
No solutions to the violence and total confusion is no longer just news, but a terrifying daily reality. Has Nigeria descended into civil war?
updated 5:39 AM EDT, Tue May 21, 2013
On the eve of the French Open, attention turns to the illness that has struck down several players. Why is it hitting tennis so hard?
updated 10:09 AM EDT, Mon May 20, 2013
Daycare, hour-long lunch breaks, free medicine? Not all of Bangladesh's factories are sweatshops, but many fear the crisis will hit them hard.
updated 9:14 AM EDT, Mon May 20, 2013
A group of bright minds at California Institute of Technology invented the 'toilet of the future,' a solar-powered wc that could save lives.
updated 9:15 AM EDT, Mon May 20, 2013
Chinese Premier is meeting India's leaders just weeks after raising the stakes in one of Asia's least understood and longest running disputes.
updated 7:15 AM EDT, Mon May 20, 2013
Despite unemployment being close to 12%, Italians are snubbing traditional jobs no longer viewed as attractive -- like pizza-making.
updated 11:07 AM EDT, Mon May 20, 2013
The woman behind the Chelsea Flower Show talks with CNN about the preparations and the 100th anniversary of the iconic horticultural gathering.
updated 7:38 PM EDT, Sun May 19, 2013
CNN's Dan Rivers reports on the influx of companies into Myanmar after the country opened up to foreign business.
updated 3:14 PM EDT, Thu May 16, 2013
Boxing legend Manny Pacquiao is using his hero status to fight human trafficking in the Philippines, pushing for an anti-trafficking law.
updated 11:22 AM EDT, Mon May 20, 2013
On Wednesday, NASA officials announced a serious problem with the Kepler satellite, the world's most successful planet-finding machine.
updated 9:54 AM EDT, Fri May 17, 2013
Anthony Bourdain discovers a American style, fast-food chicken restaurant that opened in Libya after the revolution -- and became a hit instantly.
updated 2:22 PM EDT, Mon May 20, 2013
As we mark 140 years since blue jeans were invented, we want to see the best and worst ways you've worn denim through the years.