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Gallo-Constellation Transaction May Not Close Until Second Half

May 21, 2019

The $1.7 billion deal between Constellation Brands and E&J Gallo Winery may not be completed until the second half of calendar year 2019 instead of by the end of May, according to regulatory documents. The delay was announced after Federal Trade Commission staff reviewing the $1.7 billion deal requested additional information and documents from both companies, according to a filing Constellation Brands filed Monday with the U.S. Securities and Exchange Commission.