Constellation and Gallo Revise Deal, Again

Dear Client:  Yesterday, Constellation Brands cfo Garth Hankinson said both E&J Gallo and Constellation are working towards closing the sale of 30+ wine and spirits brands, which was initially announced more than a year ago. Today, Constellation announced they've amended the deal again to address the Federal Trade Commission's concerns.Constellation's Mission Bell facility is now excluded from the transaction, revising the sale price to $1.03 billion, of which $250 million is an earnout based on divested brand performance over a two-year