US: Anheuser-Busch InBev warns of more Modelo deal delays after new lawsuit
ABI has flagged it is facing another lawsuit over its proposed deal with Modelo
The lawsuit was filed late last week in a California district court by nine individuals seeking to block the US$20.1bn deal, according to the Belgium-headquartered brewer's annual report. The transaction is already the subject of an anti-trust lawsuit lodged by the US Department of Justice (DoJ) which has delayed its completion.
In a filing to the US Securities and Exchange Commission on Monday, A-B InBev said: “Even if we, Grupo Modelo, Constellation and Crown Imports resolve the litigation with the DoJ, the court in this private action could enjoin the parties from completing the combination with Grupo Modelo, or could further delay it. We intend to defend against it vigorously.”
The private lawsuit is being handled by lawyer Joseph Alitoto, who previously tried to stop the merger of Anheuser-Busch and InBev, Bloomberg reported. The complaint claims that the Modelo deal would impact consumers through higher prices, “elimination of quality, curtailment of innovation, and destruction of consumer choice”.
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