FBI agents to sue Anheusers takeover of Modelo

9:30 AM agents, Anheusers, Modelo, takeover No Comments

Pete Williams NBC News and NBC News staff - 4 pm.

The Justice Department has filed a lawsuit to block Anheuser-Busch InBev proposed buying of the rest of the Mexican Brewer Grupo Modelo it not already in a movement have, which threatens to acquire Constellation Brands plans complete Crown imports.

Such a merger, the Government contends that would, through higher prices and fewer choices significantly reduce competition in the U.S. beer market.

The Anheuser bud light is the top-selling choice in $80 billion a year beer market. "Even a small increase in the prices of beer could result in billions of dollars in damage to American consumers," said the Ministry of justice.

With no obvious intention, a play on words, the Government declared that it is trying "to prevent the companies to merge and to preserve the existing head-to-head competition between the companies, which would eliminate the transaction."

Constellation shares fell about 20 percent Thursday, triggering stops several trade after broke news of the development. Crown imports brings brands owned by Grupo Modelo in the United States.

Anheuser-Busch InBev, the world's largest brewer, said it would deny that the action, add in a statement that it "with the law, the facts and the reality of the market."

"We remain confident of our position and we want to we vigorously dispute the DOJ action in Federal Court," the company said.

Grupo Modelo said that it expected to go the business, now in the first quarter by not.

In a statement, Constellation Brands disappointment at the Ministry of Justice expressed decision.

"The planned transaction would further Crown imports as an independent and competitive unit to establish and consolidate position as a key player in the U.S. beer industry is," said constellation in a press release.

CNBC and Reuters contributed to this report.