Beer giants try to salvage merger
"We decided to restructure the transaction to address all the concerns of DoJ," said AB InBev CEO Carlos Brito during an analyst call Thursday. But he stressed that the "core merits" of the overall agreement have not changed.
AB InBev (BUD), the world's largest brewer, first announced in June that it planned to buy the 50% of Grupo Modelo it doesn't already own for about $20 billion.
Last month, the Justice Department filed a lawsuit to block the transaction, arguing that the merger would result in one company controlling 46% of the U.S. beer market and lead to higher prices for American consumers. The Justice Department did not immediately respond to calls requesting comment.
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