Constellation Brands Confirms Receipt of Proposal to Transition to a Single Class Common Stock Structure
VICTOR, N.Y., April 04, 2022 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, has received a non-binding proposal from the Sands Family to declassify the companys common stock and transition to a single class common stock structure.
- VICTOR, N.Y., April 04, 2022 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, has received a non-binding proposal from the Sands Family to declassify the companys common stock and transition to a single class common stock structure.
- The proposal contemplates that each share of Class B common stock would be converted into 1.35 shares of Class A common stock.
- According to information disclosed by the Sands Family, the proposal was not made in connection with any other corporate transaction.
- In addition, pursuant to the terms of the proposal, any potential transaction would require the approval of holders of a majority of the shares of Class A (STZ) common stock that do not also hold shares of Class B (STZ.B) common stock.