Senate to Rule on AB InBev SABMiller MergerHarvill Industries
The Anheuser-Busch InBev and SABMiller merger that was announced earlier in November of this year will be subjected to a United States Senate hearing next week, according to a statement made by the Senate Judiciary Committee on Monday. The Senate hearing is due to be overseen by the Judiciary Committee’s antitrust subcommittee on the 8th of December.
The AB InBev and SABMiller deal would form the largest beer conglomerate in human history. The deal was proposed back in November that AB InBev would purchase SABMiller for $106 billion USD. Among the terms of the deal, it was decided that SABMiller would need to sell off their interest in their United States ventures with MillerCoors in order to avoid being considered a monopoly in the eyes of the government. It’s a clever trick, but should that influence the fact that they will still be far and wide the largest beer company in the world? That’s for the Senate to decide.
AB InBev CEO Carlos Brito and Molson Coors CEO, J. Wilson of the Iowa Brewers Guild, Molson Coors CEO Mark Hunter, and President of the American Antitrust Institute Diana Moss will be witnesses at the Senate hearing, according to a statement made by a spokesperson with authority to speak on behalf of the subcommittee.
If the Senate’s subcommittee allows the merger to go through, the new mega-corporation would be responsible for brewing nearly 33% of the entire world’s beer supply, making competitors Carlsberg and Heineken look like ants beneath a microscope.
What does this mean for the spirit of beer, craft beer, and the people and companies that pursue innovation and advancement in the beer industry? That remains to be seen, and we’ll just have to wait until December 8th to know for sure.