The deal is estimated to cost AB InBev $12 billion. The company already owns 50.2 percent of Modelo.
Symphony IRI data for the 52 week period ending May 13th, 2012 in the US Food, Drug, Mass Market and Convenience channels pegs the Corona Extra brand as the No. 1 import with more than $1 Billion in sales.
The complete WSJ story is available here.
UPDATE: Printed below is a statement released by AB InBev regarding the acquisition reports:
Anheuser-Busch InBev notes the recent speculation regarding a possible combination between AB InBev and Grupo Modelo. AB InBev routinely considers a variety of strategic options to create value for its shareholders. There have been discussions between the company and Grupo Modelo regarding a possible transaction to expand its current relationship. These discussions may or may not lead to a transaction and any speculation on terms and conditions is therefore premature. There is a long history of partnership between Anheuser-Busch InBev and Grupo Modelo and AB InBev has great admiration for the Modelo business and its brands.