Anheuser-Busch Gains on Report InBev Raised Takeover Bid to $70 |
| Bloomberg - Jul 11, 2008 |
Anheuser-Busch Cos., the brewer of Budweiser, rose as much as 9.1 percent before the start of New York trading after reports that InBev NV increased its offer to $70 a share and friendly talks started on a possible deal.
InBev boosted the bid from $65 a share to try to end a month of opposition from the St. Louis-based beermaker, the Wall Street Journal reported today, citing an unidentified person familiar with the matter. Anheuser is actively discussing selling itself, helped partly by billionaire investor Warren Buffett's support of a possible deal, the New York Times said.
A takeover of the St. Louis-based brewer would put Leuven, Belgium-based InBev's Stella Artois and Beck's together with Budweiser, first made 132 years ago. InBev, the biggest beer company by sales, would surpass SABMiller Plc as the largest by volume if it bought Anheuser. Entering talks would sidestep a prolonged legal battle, analysts said, after InBev sued for permission to oust Anheuser's board last month.
Read Full Article from Bloomberg
- Posted: 2008-07-11 09:45:33
| More Stock Investor Place Company News |
 |
|
|
|
| Stock Investor Place Company News Archive |
|
|
|
