Miller + Coors = Mill-oors?

FYI/FYE As our friends in Madison pointed out, the "money quote" with respect to (w/r/to) the merger is this one: Pete Coors, the vice chairman of Molson Coors, said in a statement today. .Creating a stronger U.S. brewer will help us meet these challenges, compete more effectively and provide U.S. consumers with more choice, greater product availability and increased innovation.. Cheers, Jim October 9, 2007 Miller and Molson Coors to Merge in U.S. By MICHAEL M. GRYNBAUM SABMiller and Molson Coors announced today that will merge their United States and Puerto Rican operations in an effort to better compete against Anheuser-Busch and the increasing popularity of wine and other spirits. The joint venture, which will be known as MillerCoors, places several of the nation.s most recognizable beer brands under a single concern. Miller will hold a controlling 58 percent stake in the venture, though the companies will split voting interest. The companies said they expect to save $500 million in annual costs from the deal, which is expected to close at the end of the year. The companies estimate net revenue of the businesses at $6.6 billion. .This transaction is driven by the profound changes in the U.S. alcohol beverage industry that are confronting both of our companies with new challenges,. Pete Coors, the vice chairman of Molson Coors, said in a statement today. .Creating a stronger U.S. brewer will help us meet these challenges, compete more effectively and provide U.S. consumers with more choice, greater product availability and increased innovation.. Shares of Molson Coors shares were up 9 percent in morning trading, at $55.62, while SABMiller rose 2.6 percent in midday London trading. Both companies face formidable competition in the American market from arch rival Anheuser-Busch, the country.s largest brewer. SABMiller.s brands include Miller genuine Draft, Milwaukee.s Best and imported drinks like Peroni Nastro Azzurro and Pilsner Urquel. Molson Coors brews Molson Canadian, Carling, Coors and Keystone Light, among other brands. -- ------------------------------ * * Dr. James Ellingson, jellings(a)me.umn.edu * * University of Minnesota, tel: 651/645-0753 * * Great Lakes Brewing News, 1569 Laurel Ave., St. Paul, MN 55104 *