Antitrust Alert: DOJ sues to block Bud Light and Corona combination
The Department of Justice has filed a civil antitrust lawsuit challenging the $20 billion proposed acquisition by Anheuser-Bush InBev of the remaining 50 per cent interest in Grupo Modelo S.A.B. de C.V., the producer of Corona Extra, the best-selling imported beer in the US. The lawsuit alleges that the transaction would not only eliminate head-to-head competition, resulting in increased prices and less innovation, but also would remove Modelo as a disruptive pricing influence in the overall marketplace.
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For the past 10 months, the US Department of Justice and the Enforcement Division of the Securities and Exchange Commission have advised the public that they are in the process of drafting guidance for companies regarding the requirements of, and prohibitions within, the US Foreign Corrupt Practices Act.
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When a firm shouts loudly about a landmark merger, as SJ Berwin did when it joined forces with King & Wood Mallesons, departures are always likely to come under the spotlight.