Constellation brands confirms receipt of proposal to transition to a single class common stock structure

Victor, n.y., april 04, 2022 (globe newswire) -- constellation brands, inc. (nyse: stz and stz.b), a leading beverage alcohol company, has received a non-binding proposal from the sands family to declassify the company's common stock and transition to a single class common stock structure. the proposal contemplates that each share of class b common stock would be converted into 1.35 shares of class a common stock. it is expected that the sands family will continue to be constellation's largest shareholder if a transaction were consummated on the terms proposed. according to information disclosed by the sands family, the proposal was not made in connection with any other corporate transaction.
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