Adolph Coors Co. (RKY.N: Quote, Profile, Research) and Canada's Molson Inc. (MOLa.TO: Quote, Profile, Research) agreed to a merger that would create the world's fifth largest brewer by volume in a bid to better compete with larger rivals, the companies said on Thursday.

The agreement is structured as a share exchange were Molson shareholders can either convert their stock to shares in the new company or receive exchangeable shares on a tax deferred basis, the companies said.

But the deal may be threatened by an up to $4 billion bid for the Canadian brewer from former Molson Deputy Chairman Ian Molson, the Wall Street Journal reported. Ian Molson, who has been feuding with his cousin, company Chairman Eric Molson, quit the company in June.

[molson.jpg]

http://www.reuters.com/financeNewsArticle.jhtml?type=bondsNews&storyID=5743420


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