Saturday, June 28, 2008
This Bud's not for you
I don't like the Belgian-Brazilian brewery know as Inbev. After having offered $46 billion for America's heart and soul, Anheuser-Busch, and getting a straight up "hell no," they are trying a hostile takeover of an American icon. Here is an excerpt from the article I read the other day about it:
"InBev, the world’s largest brewer, said on Thursday it would launch a hostile bid for Anheuser-Busch as its US rival rejected its $46bn bid as “financially inadequate”.
In court documents filed in the Court of Chancery in Delaware, InBev said it was preparing to launch a proxy battle seeking the removal of Anheuser’s entire board, citing “delays and apparent plans to attempt to block the acquisition”.
Shortly after the filing, Anheuser formally rejected InBev’s offer. August Busch IV, Anheuser’s chief executive, suggested in a letter to Carlos Brito, InBev’s chief executive, that the Belgian-Brazilian group was seeking to take advantage of the low level of the dollar and subdued US stock markets with an offer that undervalued Anheuser’s earnings potential."
That's not all. Read this:
"InBev’s court filing said that it had been told by Mr Busch before launching the bid that he was opposed to any offer, and that Anheuser was “not for sale”. Mr Busch, according to InBev, also said he and his board were committed to the company’s independence."
I say, "Here, here, Mr Busch, this bud's for you." Let's keep Anheuser-Busch's 50% of the beer market share in control of
America, not some Belgian-Brazilian interlopers who are only taking advantage of a soft market and a weak dollar.
The funny part is, I don't drink beer. I don't drink - period. However, I would hate to see such an American icon get sold off to another Multinational Corporation without a soul. Remember the Budweiser Clydesdales? Remember all the commercials about Budweiser being the King of Beers, and American made? Well, guess what, giving the stockholders 10 bucks more a share isn't worth selling out on America and it's favorite beer. Don't worry shareholders, Anheuser-Busch has a plan to slim down and become very profitable in the next couple years. Give them a chance. Inbev is trying a hostile takeover against August Busch IV and his entire board. They don't care about American jobs, they just want a huge stake in the American beer market at a low price. Don't give in. We need at least 76% of you to hold firm.
Here's the full article.