Regulators require InBev to sell Labatt USA

Fri Nov 14, 2:53 PM
WASHINGTON (Reuters) - The U.S. Justice Department has given Belgium's InBev NV conditional approval to buy Anheuser-Busch Cos Inc in a $52 billion deal.
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(Reuters)

WASHINGTON (Reuters) - The U.S. Justice Department has given Belgium's InBev NV conditional approval to buy Anheuser-Busch Cos Inc in a $52 billion deal.

The approval announced on Friday is conditioned on InBev, which makes Stella Artois and Beck's, selling its Labatt USA brand and associated licenses.

Shares of Anheuser-Busch hit a record high of $69.26 as the deal neared completion, but remained below the $70-per-share offer from InBev. The stock traded at $69.15, up $1.22, or 1.8 percent, on the New York Stock Exchange.

The beer industry is experiencing a wave of consolidation. Earlier this year, SABMiller Plc's combined with beer giant Molson Coors Brewing Co .

InBev and Anheuser-Busch shareholders have already approved the deal.

(Reporting by Diane Bartz; Editing by Tim Dobbyn)