Back in June, Anheuser-Busch InBev announced plans to add another major beer brand to its stable, with a $20.1 billion acquisition of Corona brewer Grupo Modelo. The Justice Dept. threw up a roadblock to that deal Thursday, filing an antitrust lawsuit that challenges the transaction.
“The department is taking this action to stop a merger between major beer brewers because it would result in less competition and higher beer prices for American consumers,” said Bill Baer, Assistant Attorney General in charge of the Department of Justice’s Antitrust Division. If the deal is permitted to go through, the U.S. beer industry will become that much less competitive and give ABI even more control over beer prices for Americans, the suit argues.