Speaking of Beer...
Anheuser-Busch pulled complete reversal in attitude toward InBev yesterday. Initially InBev made an unsolicited offer of $46 billion, or $65 per share. When Anheuser turned them down, InBev switched to a proxy attack. Basically they would buy enough shares to vote Anheuser's board members off one at a time. The theory being that a new board would look favorably on InBev.
Well, this move apparently scared the Anheuser's board. I'm sure each one of them was thinking about the profits they would miss out on if they were the first member to get booted.
August A. Busch IV, Anheuser’s CEO, is still fighting the merger. In an effort to quickly make the company more profitable he said he's prepared to cut Anheuser’s work force by 15%.
I'm sure Budweiser drinkers will appreciated the layoffs.
Update: It's official. Anheuser-Busch will be acquired by the Belgium company InBev for $49.91 billion, or $70 a share.
Well, this move apparently scared the Anheuser's board. I'm sure each one of them was thinking about the profits they would miss out on if they were the first member to get booted.
August A. Busch IV, Anheuser’s CEO, is still fighting the merger. In an effort to quickly make the company more profitable he said he's prepared to cut Anheuser’s work force by 15%.
I'm sure Budweiser drinkers will appreciated the layoffs.
Update: It's official. Anheuser-Busch will be acquired by the Belgium company InBev for $49.91 billion, or $70 a share.
posted by mattjustmull | 9:36 AM | permalink
1 Comments:
You know what, as long as it isn't a Boston based company I'm cool.
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