FTC clears merger of Coors and Molson beer makers

WASHINGTON (AP) _ The federal government has cleared the merger of two longtime breweries, Adolph Coors Co. and Canada's Molson Inc., sending the deal to shareholders for final approval. <br/><br/>If

Tuesday, October 5th 2004, 12:58 pm

By: News On 6

WASHINGTON (AP) _ The federal government has cleared the merger of two longtime breweries, Adolph Coors Co. and Canada's Molson Inc., sending the deal to shareholders for final approval.

If approved, the two old-line, family-run breweries would together become the third-largest beer maker in North America.

The Federal Trade Commission said Tuesday regulators suspended the 30-day waiting period for antitrust investigations and are allowing the transaction to move ahead. FTC spokesman Mitch Katz said no antitrust problems were found with the merger, so the full 30-day wait was not necessary.

In announcing the merger deal in July, the companies said the new company will be known as Molson Coors Brewing Co. and will market such brands as Coors Original and Coors Light, Molson Canadian, Keystone and Carling.

The deal would create a company with annual revenue of about $6 billion, putting it behind Anheuser-Busch and SAB Miller as the largest beer companies in North America.

Golden, Colo.-based Coors is the nation's third-biggest brewer, while Montreal-based Molson is neck-and-neck with Labatt Brewing as Canada's top beer maker.

The plan calls for Coors stockholders to receive one share of Molson Coors for each share of Coors.