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Molson Coors Brewing Company (TAP) manufactures and sells beer and other beverage products.
The company sells its products under the Coors Light, Molson Canadian, Carling, Carling Black Label, Coors Altitude, Coors Banquet, Creemore Springs, the Granville Island, Keystone Light, Mad Jack, Molson Canadian 67, Molson Canadian Cider, Molson Dry, Molson Export, Pilsner, and the Rickard's family brands in Canada; and brews or distributes under the Amstel Light, Heineken, Murphy's, Newcastle Brown Ale, Strongbow cider, Desperados, Dos Equis, Moretti, Sol, Tecate, Miller Chill, and Miller Genuine Draft brands.
It also sells various brands in the United States and Puerto Rico, such as Coors Light, Miller Lite, Batch 19, Blue Moon, Coors Banquet, Coors Non-Alcoholic, Grolsch, Hamm's, Henry Weinhard's, Icehouse, Keystone, Leinenkugel's brands, Mickey's, Miller Fortune, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Olde English 800, Peroni Nastro Azzurro, Pilsner Urquell, Sharp's non-alcoholic, Smith & Forge, St. Stefanus, Steel Reserve, Third Shift, Worthington's, and hard cider brands; and brews or distributes under the George Killian's Irish Red, Redd's, Foster's, and Molson brands.
In addition, the company sells Carling, Staropramen, Apatinsko, Astika, Bergenbier, Borsodi, Branik, Coors Light, Jelen, Kamenitza, Niksicko, Noroc, Ostravar, Ozujsko, Sharp's Doom Bar, Worthington's, Beck's, Belle-Vue Kriek, Hoegaarden, Leffe, Lowenbrau, Löwenweisse, Spaten, Stella Artois, Corona Extra, Modelo Especial, Negra Modelo, and Pacifico Clara brands; and regional ale and factored brands in Europe. Further, it sells Coors Light, Staropramen, Carling, Cobra, Corona, Molson Canadian, Coors, Coors 1873, Coors Extra, Coors Gold, Iceberg 9000, King Cobra, and Zima brands.
Shares have formed a bullish "flag" after on September 16, SABMiller (SBMRF), the second largest global beer company, confirmed that it is expecting to soon receive a formal buyout offer from its only bigger rival, Anheuser-Busch InBev (BUD). Such a purchase could create a beer conglomerate approaching $300 billion in market capitalization. And while Molson Coors wasn't the target of this possible merger, its stock rose by the same amount as SABMiller's did. Today, AB InBev (BUD) announced a revised proposal to the board of SABMiller to combine the two companies. The revised proposal that AB InBev has made is to acquire SABMiller for GBP 42.15 per share in cash, with a partial share alternative available for approximately 41% of the SABMiller shares.
We expect higher share prices for TAP.
Note that TAP is bid up about $3 in pre-market to $84. We expect to be able to enter the position at $82 about an hour into the market.
52-Weeks Trading Range: $63.91 - $85.79
Entry Point: $82.00
Stop Loss: $77.90
Target Price: $90.20
TAP closed at $91.00.
