Showing posts with label takeover. Show all posts
Showing posts with label takeover. Show all posts

Sunday, July 13, 2008

Quand tu dit Bud. . . .

Budwesier always, to me, tasted like horse piss (or at least what I imagine horse piss would taste like), but at least it was our horse piss.

No more.

The United States is becoming the new Africa -- a ramshackle continent of serfs, beholden to foreign colonial masters. The gory details follow, courtesy of Reuters:

U.S. brewer Anheuser-Busch Cos Inc agreed to a $50 billion takeover by Belgium-based InBev NV, a source familiar with the situation said Sunday, creating the world's largest beer maker.

InBev, the maker of Stella Artois, and Budweiser-brewer Anheuser were not immediately available to comment.

The combined company will be called Anheuser-Busch InBev, said the source, who agreed to speak on condition of anonymity. Anheuser will get seats on the new company's board, the source said, but it was not immediately clear how many.

The deal brings an amicable resolution to a month-long saga that was becoming increasingly hostile as the two companies sued each other and InBev set the stage to try to replace Anheuser's board of directors.

InBev had proposed its own slate of nominees for the board that included Adolphus Busch IV, an uncle of the current chief executive of Anheuser-Busch.

InBev lured Anheuser to the bargaining table last week by raising its offer to $70 per share from $65 per share, a 27 percent premium over Anheuser's record-high stock price in October 2002.