Anheuser-Busch InBev NV (ABI.BT, BUD) and Mexico's Grupo Modelo
(GMODELOC.MX, GPMCY) said Wednesday they were in discussions with
the Justice Department to resolve a government antitrust lawsuit
challenging the companies' planned merger, and the parties
Wednesday jointly asked a federal judge to postpone the case for a
month.
The Justice Department challenged the proposed tie-up last
month, saying it could lead to higher prices for beer drinkers.
Last week, AB InBev offered to sell an additional $2.9 billion
of assets to Constellation Brands Inc. (STZ, STZB) in a bid to
rescue its $20 billion Modelo takeover.
The department said in a joint court filing with the beer
companies it is investigating whether the revised deal resolves the
government's competition concerns.
Constellation said it is also involved in the talks.
"A stay of litigation proceedings until March 19, 2013 would be
beneficial to the parties and conserve efficient use of the court's
resources while this investigation, and the parties' discussions
regarding a potential resolution of this litigation, take place,"
the parties said in the court filing.
Write to Brent Kendall at Brent.Kendall@dowjones.com
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