FTC Clears Constellation and Gallo Deal After 20-Month Investigation
Following a 20-month investigation, The US Federal Trade Commission has accepted the proposed consent order for Constellation Brands to divest a number of brands to E&J Gallo. The FTC notes that E&J Gallo has “agreed to divest several product lines and remove certain others from its asset purchase agreement” to settle its claims that the proposed $1.7 billion transaction would violate antitrust law.
The FTC will publish the consent agreement “shortly” allowing for public comment. Barring any further issues, the deal is scheduled to close the week of January 4.