AB InBev (BUD), Grupo Modelo Confirm 'Strategic Talks'

June 25, 2012 12:36 PM EDT
Shares of Anheuser-Busch InBev (NYSE: BUD) have been very volatile Monday as rumors about a large bid for Grupo Modelo were confirmed by both companies. The stock last traded at $70.99, up 1 percent from Friday's close.

AB InBev shares traded up nearly 2 percent this morning as a $12.5 billion price tag was first heard, however, the stock dipped into the red as Bloomberg reported the deal was likely closer to $20 billion. The stock was halted in late-morning trade as AB-InBev confirmed "strategic talks" with Modelo, but no price was given.

Grupo Modelo shares trading on the pink sheets are up nearly 18 percent at last check.

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