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Justice tries to halt Budweiser beer merger
DOJ filed a lawsuit to stop the merger on Thursday, the Associated Press reports.
DOJ says the companies provide roughly 46 percent of U.S. beer sale — and a merger would constitute take-over of the market, BBC reports. The competitive edge would drive up beer prices, DOJ argues, according to the BBC.
“If ABI fully owned and controlled Modelo, ABI would be able to increase beer prices to American consumers,” said assistant attorney general Bill Baer, according to CNN.
Anheuser-Busch InBev has faced some strong competition in the past couple years. Daily Finance reports in September 2011 that the company was lagging in several key areas of investment potential when compared to then-growing Boston Beer company. Still, it was rated a smart stock option for long-term economic recessions.
The Associated Press reports that Anheuser-Busch InBev will pursue a court fight with Justice, if need be.
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About the Author
Cheryl Chumley is a continuous news writer for The Washington Times. Previously, she was part of the start-up team for The Washington Times’ digital aggregation product, Times247. She’s also a 2008-2009 Robert Novak journalism fellow with The Phillips Foundation. She can be reached at email@example.com.
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