Coors, Molson to Merge

Adolph Coors Co. and Molson, Inc., have agreed to a merger to position the companies to better compete with larger rivals. The new company will be called Molson Coors Brewing Company, Reuters reported July 22.

The merger will create the world's fifth-largest brewer by volume, with expected annual sales of $6 billion.

But the deal could be threatened by a rival bid from former Molson Deputy Chairman Ian Molson, who is looking to buy Molson. Molson quit the company in June after a long-time feud with his cousin, company Chairman Eric Molson.

However, both companies indicated that they would not solicit other offers.