|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
: Shares of Constellation Brands fell after the Justice Department sued to block Anheuser-Busch InBev's proposed purchase of Mexican brewer Grupo Modelo, which the government said could lead to higher beer prices for Americans.
THE BACKGROUND: It hurts Constellation's related $1.85 billion deal that would give it greater U.S. control of Corona and other beers. Constellation was to buy the remaining half of a joint venture with Grupo Modelo.
THE ISSUE: The government noted that Anheuser-Busch InBev could end a deal to supply Modelo brands to Constellation after 10 years and retain the Modelo brands and its brewing facilities.