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’Snap news
Breaking pre-market news on Thursday,
- Credit Agricole Q2 net income up 52 per cent to €663m – statement.
- Fortis posts €886m profit on proceeds from divestment – statement.
- Nationwide House price index rises 1.6 per cent in August – statement.
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,
[Bud & Becks] What now for the prodigal uncle?
FT Alphaville always sides with the little guy, even if he carries the surname Busch.
What now for Adolphus Busch IV, the half brother of retired Anheuser-Busch chief executive August Busch III, who stood out publicly and backed the proposed Belgian/Brazilian takeover by Inbev?
Will he even be welcome at his favourite drinkery,
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,
[Bud & Becks] Beer brawl – InBev signal hostile intentions for Anheuser-Busch
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”
Dear August
As per the letter below, InBev may have reassured the market about the sureity of their offer, but as per the whim of August Busch (the fourth), those reassurances mean little. According to reports in the FT and the WSJ,
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,
From the desk of Adolphus IV
On the proposed takeover of an American Icon…
“I believe that as directors you now have a fiduciary duty to commence negotiations with InBev in order to bring about this deal and allow the shareholders to receive the price proposed by InBev.”
Transatlantic relations
We think this is a joke.
Save Budweiser from the waffle guys. InBev, Clydesdales
“Budweiser presents a Real American Brewery…..it may not that be that way for long…..Interwoven into fabric of American culture and landscape since the 1850s,
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] That touchy, feely, creepy beer bid
Okay, now we know why Inbev, hitherto understood to be a rapacious and litigious Belgian/Brazilian drinks conglomerate, wants to take over Anheuser-Busch, the iconic US brewer of Budweiser.
Most of all,
[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,
There’s still life in that old eurobond market
The Eurobond market saw a flurry of activity this week, fuelling a trend that has seen the market gradually pick up pace through the year, though at this point, it’s very much in fits and starts — and there’s much catching up to do,
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,
Inbev close to financing Anheuser bid
Belgium’s InBev is close to securing a $50bn financing package to enable it to launch a takeover bid for Anheuser Busch, maker of Budweiser beer, reported the Sunday Telegraph [via Reuters]. InBev, the world’s second-biggest brewer,
[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,