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Justice gives go-ahead for Miller, Coors merger

The Justice Department gave the go-ahead for the merger of the U.S. operations of SABMiller and Molson Coors, the companies said Thursday.

The agency has completed its antitrust review and "closed its investigation," the companies said, adding they are now "free to proceed with...a new company called MillerCoors."

Miller operates a major brewery in south Fort Worth.

The companies said they expect the merger to generate about $500 million in annual cost savings, to be delivered "in full by the third full financial year of combined operations."

The deal is expected to close by June 30, the companies said.

-- Scott Nishimura