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Coors and Molson "reportedly" in merger talks

T

Train

Lifer
CHICAGO (CBS.MW) -- Shares of Adolph Coors Co. moved as much as 6.5 percent higher Monday, following reports that the company is in merger talks with Canadian brewer Molson Inc.

Citing people familiar with the negotiations, the Financial Times reported early Monday that the two family-run firms were discussing a possible combination, which would create a multinational alcohol company with about $6 billion in sales.

The pair already have joint ventures through which each markets the other's beers on its home turf; that relationship has been in place since 1998.

Neither company immediately returned calls for comment on the report.

Shares of Golden, Colo.-based Coors (RKY: news, chart, profile) rose nearly 6 percent to $77.35 in trading on the New York Stock Exchange, while Molson (CA:MOL.A: news, chart, profile) added more than 2 percent to C$33.38 in Toronto.

At their best level of the session, Coors shares reached a 52-week high at $77.76.

Both companies have been suffering in the face of consolidation and strong market-share gains by competitors including Anheuser-Busch (BUD: news, chart, profile), SABMiller and Interbrew (IBRWF: news, chart, profile).
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My sister used to work at Molsons
They've sold coors a lot longer than 98 though?
Coors Lite is their number one summer brand with Canadian being their number one winter brand.
 
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