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Sunday, July 13, 2008

Bye, Bye Bud?

From Friday's Wall Street Journal:

Anheuser Chief Executive August Busch IV began discussions with InBev CEO Carlos Brito in recent days after InBev sweetened its original offer of $65 a share, or $46.35 billion, a person familiar with the matter said. Board approval is likely this weekend, but the talks could still fall apart, this person cautioned.

The companies are ironing out such details as a name for the combined company. Key to the talks for Anheuser is protecting the interests of its employees and distributors, people familiar with the matter said.

On the road for a week, I wasn't paying close attention to the potential sale (probably a good thing) except to note that Anheuser-Busch's stock had risen on Friday to its highest point in a year: $65.55. I was alerted to the story at Stonch's Beer Blog.

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