Clearly, InBev, the Belgian/Brazilian beer combine that wants to takeover Anheuser-Busch, has tired of trying to drink Bud with its soft gloves on.
A press release issued late on Thursday, while regurgitating the guff about Inbev’s “strong preference” for a “constructive dialogue” with a view to achieving a “friendly combination,” added:
At the same time, the Company is also seeking a declaratory ruling in Delaware regarding alternative routes to progress the combination to ensure that Anheuser-Busch shareholders preserve their voice in the process.
What this seems to mean is that InBev wants the Delaware court to confirm that shareholders, using something called a “written consent procedure,” can unseat the entire 13-strong Anheuser board.
So, this would appear to be the first step towards a full blown hostile offer/proxy fight.
What fun!
Those who have read the full detail of FT Alphaville’s coverage of this battle will know that InBev has had a clear strategy from the outset to escalate hostilities in stages — from fireside chat to hostile bid, via letters to the board, pressure on the directors, public bear squeeze, etc.
Clearly, nothing August Busch IV has done or said to date has disturbed the original InBev schedule.
Related links:
Bud & Becks - FT Alphaville series
