Alert: Gallo in Talks to Buy Constellation Wine Biz

Dear Client: Constellation Brands may have already found a buyer for its wine business. E&J Gallo is reportedly in "advanced talks" with Constellation to purchase its low-end wine brands, people familiar with the situation told CNBC.Reports surfaced in October that Constellation was looking to offload some of its US-based wine brands including the likes of Clos du Bois, Mark West, Arbor Mist and Cooks. And last month at the CAGNY conference, Constellation brass made it clear that sale was imminent