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SABMiller And Molson Coors to Combine U.S. Operations 

Brewers SABMiller <SAB.L> and Molson Coors Brewing <TAP.N> have agreed to combine their U.S. operations to create a business that will have annual sales of $6.6 billion and be the second-biggest market player behind Anheuser-Busch <BUD.N>.

The venture, MillerCoors, will generate around $500 million of annual cost savings by the third year after completion of the deal, which is subject to the approval of the U.S. competition authorities, the two groups said on Tuesday.

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