The U.S. Justice Department on Thursday cleared the merger of Molson Coors’ and SABMiller’s domestic beer operations.
Federal antitrust officials said the proposed joint venture, to be named MillerCoors, “is not likely to lessen competition substantially.”
The merger is scheduled to become final by June 30. The brewers expect the combination to produce $500 million in savings within three years from efficiencies and consolidations.
Budweiser owner Anheuser- Busch controls 50 percent of the U.S. beer market. Coors and Miller, combined, would have about 30 percent.
Still up in the air is the question of where MillerCoors will base its headquarters.
Molson Coors vice chairman Pete Coors has said the firm may locate in a city other than Coors Brewing’s home of Golden or Miller Brewing’s Milwaukee headquarters. Chicago and Dallas have been rumored as candidates.
“We do know that Miller Coors will maintain a significant presence in Golden and Milwaukee,” Molson Coors spokeswoman Kabira Hatland said. “No breweries will be closed.”
Steve Raabe: 303-954-1948 or sraabe@denverpost.com
