Grupo Modelo shares surge on InBev takeover reports

Shares of Mexican brewer Grupo Modelo surged more than 11 percent on Monday after reports that Anheuser-Busch InBev is nearing a deal to buy the 50 percent of the company it does not already own.

Trading of the stock was suspended on Mexico's IPC stock exchange in early dealings.

A deal between Modelo, the maker of Corona beer, and the Belgian-based brewer Anheuser-Busch InBev could be clinched as early as this week, The Wall Street Journal reported on Sunday.



Source: Reuters