Investing

Another Big Merger Deal Brewing in Booze

Diageo PLC (NYSE: DEO) is reportedly set to acquire the well-known and widely distributed Jose Cuervo tequila brand. The deal was talked up in the Sunday Times and is said to be closing as soon as this week for as much as $3 billion.

Bloomberg TV was reporting that, as the distributor, Diageo has the right to buy Jose Cuervo from the Beckmann family. As far as the details of the deal, these remain sketchy, other than that Diageo may fund part of the deal with its own shares and that the deal may have multiple agreements based on the various aspects of the Jose Cuervo business.

The world is seeing a mass consolidation of brand ownership among top beer and alcohol companies. Anheuser-Busch InBev (NYSE: BUD) is not that old of a merger itself, with the Budweiser empire becoming part of the InBev empire, and now it has gone after Grupo Modelo, also in Mexico, for the stake it does not own.

As far as how this would compare to the Diageo empire, its listed value of its ADRs per Yahoo! Finance is $66 billion. Those ADRs are at $106.05 so far today, and the 52-week range is $72.33 to $109.33.

JON C. OGG

Are You Ahead, or Behind on Retirement?

If you’re one of the over 4 Million Americans set to retire this year, you may want to pay attention. Many people have worked their whole lives preparing to retire without ever knowing the answer to the most important question: am I ahead, or behind on my goals?

Don’t make the same mistake. It’s an easy question to answer. A quick conversation with a financial advisor can help you unpack your savings, spending, and goals for your money. With Zoe Financial’s free matching tool, you can connect with trusted financial advisors in minutes. 

Why wait? Click here to get started today!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.

AI Portfolio

Discover Our Top AI Stocks

Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.

You can follow him investing $500,000 of his own money on our top AI stocks for free.