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’InBev postpones rights issue
InBev postponed a $9.8bn rights offering on Tuesday that it hoped to use to finance its $52bn takeover of US brewer Anheuser-Busch, blaming “unprecedented volatility in the global capital markets”.
When deal financing goes flat
Or: too much volatility and beer loses its fizz.
From InBev:
InBev (Euronext: INB) today announced that, as a consequence of unprecedented volatility in the global capital markets, particularly during the last week,
InBev mulls Korea sale to secure Anheuser
InBev is weighing up whether to sell its South Korean brewery and certain brands in Germany, among other assets, as it works to find the best way to cover a bridge loan arranged to finance its $52bn takeover of Anheuser-Busch.
Champagne or Budweiser?
Goldman Sachs is to receive $40m for its role in advising Anheuser-Busch on its sale to Inbev, according to an SEC filing:
Pursuant to an engagement letter between Anheuser-Busch and Goldman Sachs, Anheuser-Busch has agreed to pay Goldman Sachs fees of approximately $40 million for its services in connection with the Merger,
In bed with InBud, Anheuser succumbs to Belgian/Brazilian charm
Two days ago it was a price not determined to be financially adequate or in the best interest of shareholders.
Now – pace the board of directors of Anheuser-Busch – it is a price both financially adequate and in the best interest of shareholders.
Anheuser Busch approves $50bn sale to InBev
Budweiser brewer Anheuser-Busch agreed last night to be taken over by Belgian rival InBev for $70 a share, marking an amicable end to a month-long takeover battle that had recently grown hostile. The new company’s board is set to include two representatives from Anheuser,
Anheuser scathing over InBev move
Anheuser-Busch said that rival brewer InBev’s decision to launch a process that could unseat its board of directors was a “self-serving” effort to override the board’s refusal of InBev’s $46bn takeover offer.
Snap News
The latest on Monday,
- InBev picks alternative Anheuser board – FT
- Germany’s Fresenius to acquire APP for $3.7bn – FT
- Inspired Gaming Group announces sale of pub division and share placement
Snap News
The latest on Tuesday,
- InBev says committed to Anheuser-Busch at $65 a share; will pusure all avenues to give AB shareholders a direct voice – statement
- Russian gold miner Yuzhuralzoloto plans
InBev to go hostile as Anheuser rejects bid
InBev, the world’s largest brewer, said Thursday it would launch a hostile bid for Anheuser-Busch as its US rival rejected its $46bn bid as “financially inadequate”. In court documents filed in Delaware,
Anheuser set to reject InBev bid
InBev moved to quash doubts on Wednesday about whether it could raise funds for its ambitious $46bn unsolicited takeover bid for rival US brewer Anheuser-Busch, even as the likelihood grew that Anheuser would reject the bid as too low,
Anheuser board set to discuss InBev bid
Anheuser-Busch’s board of directors plans to meet this week for the first time since rival Belgian brewer InBev formally made its $46bn bid to acquire the company. The board will weigh a variety of options for Anheuser,
Buffett’s potential windfall from Anheuser sale
Berkshire Hathaway, the investment company controlled by billionaire Warren Buffett, may bank a $600m profit if InBev succeeds in its $46.3bn takeover of Budweiser-maker Anheuser-Busch, reports Bloomberg.
[Bud & Becks] What price a bear hug?
Affection can be costly. The InBev approach to Anheuser-Busch, after being rudely rumbled in late May, is ticking along.
The intention was to send a “private letter” to the US icon, and to follow up with a stronger letter to the board should (as expected) the response be lacking in enthusiasm.
InBev sends warning to Anheuser
Belgian brewer InBev on Sunday warned Anheuser-Busch that its $65 a share cash takeover bid could change if Anheuser pursues a tie-up with Mexican brewer Grupo Modelo. Anheuser, the US brewer of Budweiser,
Anheuser in early talks with Modelo
Anheuser-Busch has begun preliminary talks with Mexico’s Grupo Modelo about a possible combination of the two brewers that could help the US beer giant thwart an unsolicited, $46.35bn bid from InBev of Belgium,
InBev in $46bn bid for Anheuser
Anheuser-Busch, the US brewer of Budweiser beer, said Wednesday it had received an unsolicited $46.3bn takeover bid from rival InBev of Belgium, reports the FT. InBev offered $65 a share in cash for Anheuser,
[Bud & Becks] Project Barium – InBev’s negotiations with SABMiller
SABMiller has quietly indicated to Belgium’s InBev that it would formally consider a bid pitched at £15.00 a share or more, valuing the business at £22.6bn, FT Alphaville has learned.
The London-listed brewer has told representatives of InBev,
InBev weighs Anheuser bid
InBev, the Belgian-Brazilian brewer which is considering making a $46bn offer for Anheuser-Busch, is hoping to convince its US rival to sit down for friendly talks but has made no formal overtures so far,
[Bud & Becks] A white knight for Anheuser?
It is probably premature to speculate on who might spoil InBev’s beer party, moving to agree a friendly merger with Anheuser Busch in preference to the cost-cutting, zero-base budgeting team from Belgium and Brazil.
[Bud & Becks] Golden beer barrels – the (potential) Anheuser exit packages
We are jumping ahead here, but there are certainly compensations available if the Busch family is forced to cede ownership of Anheuser-Busch to the Brazilian/Belgian management at InBev.
In fact, using the $65 a share offer price being considered by the InBev board,
[Bud & Becks] InBev’s plans for Anheuser’s theme parks
It’s just what you might need after a few bottles of the iconic Budweiser or a Michelob or two – a ride on a mythical beast that is part eagle part lion, towed to a height of 205 feet and then hurled at 90 degrees back towards earth at a speed of 75 mph and a force of G4.
[Bud & Becks] The InBev strategy
It seems counter intuitive. In the mature beer industry, most companies are setting their sights on the relatively-underdeveloped emerging markets, which hold out hope of higher growth.
InBev is doing just the opposite.
[Bud & Becks] InBev targets takeover of Anheuser-Busch
InBev, the brewing giant created through the merger of Interbrew and AmBev, is working on a $46bn takeover approach for Anheuser-Busch, the iconic American brewer of Budweiser, FT Alphaville has learned.
Alcohol-fuelled M&A gossip? Diageo/ Anheuser/ SABMiller…
Nice to see the merger-mongers are not far behind those declaring an end to the credit crisis and a cautious return to normality.
Wednesday saw speculation – and persistent speculation at that, if you accept that the share prices concerned were moving against the trend – of an $80bn merger in the drinks sector.
US’s Coors & SAB in $10bn merger
SABMiller and Molson Coors on Tuesday agreed to a $10bn merger of their US brewing operations to create a rival to market leader Anheuser-Busch. SAB and Coors, the second and third-largest US brewers respectively,
Project Spice — who might have spoiled the party?
In considering Diageo’s proposal to carve up Scottish & Newcastle between them, SABMiller gave considerable thought to who else might step in to partner the UK drinks giant if it declined – and to which companies might be prompted to launch a counter-bid once S&N were in play.
Beware those expensive defensive US stocks
Compared with their bond market peers, investors in US equity markets remain notoriously optimistic in their economic outlook. Or so the conventional wisdom goes. But Lex advises readers to dig a little deeper,