Check out the action of Fomento Económico Mexicano (FMX).
So what happened? At 3:42, after shares went wild WSJ reported:
Femsa, one of the largest beverage companies in Latin America, is in discussions to merge its beer operations with a larger rival in a deal that could be valued at as much as $9 billion and would continue a global wave of brewing consolidation, people familiar with the matter said.
Fomento Economico Mexicano SAB, as Femsa is officially known, has held discussions with beverage companies including SABMiller PLC and Heineken NV, the people say. It is being advised by NM Rothschild & Sons Ltd. The talks recently have become more formal and serious, the people said, adding that no deal is imminent.
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