Anheuser-Busch InBev has completed its $20.1 billion purchase of Mexican brewer Grupo Modelo.
The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.
Protesters rally in front of the Peabody Energy headquarters in downtown St. Louis on April 29, 2013. They gathered to draw attention to a Patriot Coal case regarding the health care benefits of 10,000 retired miners. Peabody spun off Patriot in 2007.
A federal bankruptcy judge granted a motion Wednesday allowing St. Louis-based Patriot Coal to make major changes to retirees’ health benefits.
Patriot estimated it had more than $1.6 billion in health liabilities for some 23,000 retired miners and their families.
The company said it could not emerge from bankruptcy with those obligations and is instead offering the United Mine Workers of America a 35 percent stake in a new company, as well as a healthcare trust fund for retirees.