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Anheuser-Busch, Miller Settle Lawsuits

NATION / WORLD: BEVERAGES

May 20, 1998|Bloomberg News

Anheuser-Busch Cos. and Philip Morris Cos.' Miller Brewing Co. settled their lawsuits that accused each other of interfering with agreements with distributors of beers made by both companies. St. Louis-based Anheuser-Busch, the world's biggest brewer, said it agreed to send a letter to those wholesalers stating there are no requirements in their contracts that suggest they decrease efforts to sell Miller beers. In return, Miller agreed to drop its counterclaim and separate suits filed against a handful of wholesalers. Milwaukee-based Miller, the No. 2 U.S. brewer, and Anheuser-Busch sued each other in February and March amid a fierce price war. On the NYSE, Anheuser-Busch's shares rose 38 cents to close at $46.96; Philip Morris' shares rose 63 cents to close at $35.81.

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