Crossroads

At the intersection of technology, finance and the Pacific Rim.

Friday, June 27, 2008

More on Anheuser Busch

From the NY Times:

The board of Anheuser-Busch is planning to reject this week an unsolicited $46.4 billion takeover bid from InBev, a rival brewery based in Belgium, people close to the American company said on Wednesday.

The rejection, which has been widely expected, will formally start what is likely to become a bitter fight that may even spill over to a political debate about Anheuser-Busch, the maker of Budweiser and one of the nation’s most prominent family-run companies.

In an effort to justify rejecting InBev’s $65-a-share bid, Anheuser-Busch is expected to announce an extensive reorganization aimed at bolstering profits that will include cutting more than $500 million in costs, these people said.

For more details, go here.

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