Molson Coors CEO: U.S. Craft Brewers Are “Massively Overvalued”

Dear Client:Molson Coors CEO Peter Swinburn stopped by Bloomberg's New York headquarters while he was in town for Wednesday's New York Investor Analyst Meeting. Bloomberg reported yesterday that the chief told them he sees North American craft breweries as "massively overvalued." It seemed in the context of more prodding over potential M&A. "I'm sure the craft owners would say they're not overvalued," he said. "I'm just saying we have to generate value from any purchase we make, and we find