Anheuser-Busch to Reject InBev; Drink American Stands Down from Boycott

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• June 26, 2008 at 2:43 pm #7870
  David Lauterbach

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  In a move that has surprised many (including us) it’s been reported that Anheuser-Busch plans to reject InBev’s unsolicited $46.3 billion takeover offer, saying it undervalues the company.<br />
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  From <strong><a href="http://www.drinkamerican.us">Drink American</strong></a>, our buddy site:<br />
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  It is with great pleasure that we would like to officially stand-down from the Anheuser-Busch boycott that we were suggesting take place on Independence Day. Those that had pledged to stand by our boycott understood the importance of dissuading members of the Anheuser-Busch board of directors from selling the All-American company to a foreign entity.<br />
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  We would like to suggest that a boycott of all InBev products continue, as a rejection from Anheuser sets the stage for InBev to either raise its bid (as high as $70 a BUD, by some reports) or take its bid directly to shareholders — options InBev is likely to pursue. <strong><a href="http://drinkamerican.us/faq/31-general/54-inbev-brands-to-boycott.html">A list of all InBev products can be found here</strong></a> and a list of <strong><a href="http://drinkamerican.us/news-blog/1-latest-news/60-two-six-packs-of-american-beer-for-4th-of-july.html">12 great American beers for the Fourth of July</strong></a> can be found here.<br />
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  In rebuffing InBev’s offer, Anheuser-Busch plans to map out its own restructuring plan soon that would include the sale of the company’s theme park operations, The Wall Street Journal reported.<br />
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  The plan also would include layoffs, more than $500 million in cost-cutting efforts and the sale of Anheuser-Busch’s packaging unit, the New York Times added. Both are some unfortunate side-effects.<br />
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  Billionaire investor Warren Buffett, whose Berkshire Hathaway is Anheuser’s second-largest shareholder, told CNBC on Wednesday that he viewed the beer battle as &quot;an interesting spectator sport&quot; but had not thrown his support behind either side.

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