June 12, 2008

Belgian brewing conglomerate InBev SA makes $46 billion bid on Anheuser-Busch

They're offering shareholders $65 for their $58 stock as part of an unsolicited buyout bid.  Big brewers in general are consolidating in part because of higher cost of ingredients and materials. Another reason for the bid is that sales for Anheuser-Busch in the US have been kinda flat, as consumers in the US are becoming more interested in wine, cocktails, and beer that doesn't taste like cheap crap.

Employees in St. Louis are worried about losing their jobs in the consolidation, should Anheuser-Busch sell.  Some people are strongly opposed to Anheuser-Busch being owned by a foreign company, and are opposed to making the deal on those grounds.

Governor Matt Blunt is also opposed to the deal, and has told the Missouri Department of Economic Development to find a way to stop it from happening.  So much for that free market, eh?  Sorry, but that Matt Blunt is trying to interfere with this deal is inappropriate, particularly for a Republican.  This isn't a defense contractor or a business that could be used to compromise security, this is a big brewery.

Of note, one of the sites opposing the Anheuser-Busch deal on "patriotic grounds" is SaveAB.com, started by Matt Blunt's former Chief of Staff.

Perhaps the Chelada wasn't such a good idea?

Posted by: doubleplusundead at 12:37 PM | Comments (2) | Add Comment
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