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Cheers: Feds OK Miller, Coors Merger
Feds approve plan; new company would control 30% of market
By Harry Kimball
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Posted Jun 5, 08 5:46 PM CDT
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(Newser)
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The US Justice Department today approved a merger between Miller and Coors, opening the door to a union that will command almost 30% of US beer sales, the Wall Street Journal reports. Anheuser-Busch, the country’s largest brewer, controls about 50%. Regulators said the merger—expected to be wrapped up mid-year—“is not likely to lessen competition substantially.”
In fact, the feds predict the deal will help bring prices down. The ruling paves the way for an alliance hoped for since October of last year, and the two companies will now have to figure out some tricky logistics. Miller Lite and Coors Light are traditional rivals in a market dominated by Anheuser’s Bud Light.