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US sues to block US$20 billion AB InBev takeover of ModeloAFP WASHINGTON -- U.S. antitrust authorities sued Thursday to block the US$20.1 billion takeover of Mexican brewer Grupo Modelo by Belgian-U.S. giant Anheuser-Busch InBev, saying the combined firm would have too much power over the U.S. beer market.
February 2, 2013, 12:05 am TWN The move put on hold the takeover announced last June that would bring together brands like Budweiser, Stella Artois and Corona in the world's largest beer company, and give it a 46-percent hold on the U.S. market and a bigger lock on Mexico's. ABI, which had revenues of some US$40 billion in 2011, already owns about 50 percent of Modelo, but the all-cash deal would give it strategic control of the Mexican company, which reported 2011 sales of US$7.2 billion. |
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