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Constellation rises on Modelo bid report

CHICAGO (MarketWatch) -- Constellation Brands rose more than 8% in early action Monday following reports that Anheuser-Busch InBev is close to a complete takeover of Mexican brewer Grupo Modelo. The bid for the 50% of Modelo it does not own is pegged at about $12 billion. Constellation currently distributes Corona and other imported beers in the U.S. via a joint venture with Modelo.