A-B Board: “No Response” to InBev Bid

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Brew blog

Will continue to review proposal.

The Anheuser-Busch board did not have a response today regarding the InBev bid.

From a release:

ST. LOUIS, June 20 /PRNewswire-FirstCall/ — The Anheuser-Busch Cos. Inc. (NYSE: BUD – News) board of directors met today to discuss in detail the unsolicited, non-binding proposal submitted from InBev June 11 to acquire all outstanding shares of the company.

No response to the proposal was made by the board today. The board will continue to review and consider the proposal.

Says Beer Business Daily:

It behooves A-B management to drag out this as long as possible, so that they can look at all possible contingencies and possibilities. It is assumed that A-B’s board is generally against the bid and that they would rather remain independent. But coming up with a plan that shareholders will like to bring over $65 a share in value will be difficult.

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