Craft Brew Alliance Shares More Than Double After Anheuser-Busch Deal
13 November 2019 - 2:32AM
Dow Jones News
By Michael Dabaie
Craft Brew Alliance Inc. (BREW) shares were up more than double,
to $16.22, after Anheuser-Busch InBev SA (BUD) agreed to buy the
remaining CBA shares it doesn't own for $16.50 per share cash.
Anheuser-Busch currently owns a 31.2% stake in CBA. The majority
of Craft Brew Alliance brands are already distributed
Anheuser-Busch's independent wholesalers network under an existing
commercial agreement.
The transaction is expected to close in 2020.
Anheuser-Busch shares were up 0.8%, to $79.34, in early
trading.
Craft Brew's brands include Cisco Brewers, Redhook Brewery and
Wynwood Brewing Co.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
November 12, 2019 10:17 ET (15:17 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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