Liberty Reborn

Well, looks like we have finally found something Europeans are willing to fight for these days – beer:

Anheuser-Busch, the largest US brewer, on Friday said it would cut jobs and increase share buybacks as it set out its justification for rejecting a $46bn bid from rival global brewer InBev.
August Busch IV, chief executive, told investors that the company’s board had taken the bid “very, very seriously,” but had concluded that it undervalued Anheuser when compared to similar transactions in the global beer business involving iconic brands.

…

InBev, the world’s largest brewer, said on Thursday in court documents that it was prepared to launch a proxy battle seeking the removal of Anheuser’s entire board, citing “delays and apparent plans to attempt to block the acquisition”.

It also said it still wanted a “constructive dialogue” over its $65-a-share offer.The exchange set the stage for a high-profile international battle for control of Anheuser, which controls almost half of the US beer market.

Gee, good to know that the Europeans will stand up and be counted when it maters!

So InBev wants a “constructive dialogue” but it has already announced intentions to incite a hostile takeover? Isn’t that like saying, “die or we’ll kill you?”

This entry was posted on Monday, June 30th, 2008 at 2:40 pm and is filed under J.J. Jackson's Daily Opinion. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.