Buffett backs InBev bid, Belgian newspaper says
Belgian newspaper De Standard this morning is reporting that Warren Buffett is supporting InBev’s $47.5 billion takeover offer for Anheuser-Busch Cos.
Quoting sources, the paper says Buffett is willing to sell his A-B shares to the Belgian brewer. Buffett’s Berkshire Hathaway owns a 5 percent stake in the St. Louis-based brewer.
A spokeswoman at Berkshire Hathaway would not provide comment to De Standard for its story.
Buffett’s support for the deal could smooth the way for InBev’s effort to buy the St. Louis-based brewer. InBev is offering $65 a share for A-B.
British newspaper The Observer reported Sunday that the billionaire plans to meet with A-B CEO August A. Busch IV this week to discuss the InBev offer.
Citing its anonymous sources, The Observer reported that Buffett believes the Busch family should consider discussions with InBev rather than reject the bid outright.
Looks like Buffett no longer believes in America. Maybe Buffett should consider giving Berkshire to InBev also.
Warren Buffett wanting to sell his shares of AB is no surprise. But when the foreign companies start buying similar stocks that he holds and start slashing jobs and moving over seas, perhaps Warren can then create the Universal Unemployment Service. So many will be out of jobs that he can easily siphon off some of his mega billions.
Let’s see how Buffett’s legacy lives down the ‘fleecing of America’.
I can’t believe that he would back a deal that would basically kill the St Louis economy. Obviously he does not care about the regular folk with his billions. I guess it is all about making the buck.
This news basically confirms the end to the brewer as we know it unless the Busch’s have a trick or two up there sleeve no one knows about. Being of German heritage myself I would imagine the strong arm statics that Inbev is using in threatening letters and attempting to buy the rest of Modelo out from under AB has just got the Busch’s blood boiling. We Germans do not like to be told what to do and if done so we are likely to do something not real nice out of spite. I wonder if they could sell the trademark to Budweiser before the sale…
Per another article on this website, the last US slaughter house for horses will not re-open,therefore, Inbev will have to find another way to liquidate the Cydesdales at least this news will save them from a certain death. I wonder which animal shelter they will drop the dalmations off at?
Kidding a side, it is now time for the politicians in this city and state stop ruffeling the feathers of Inbev and buy a case of chapstick and do whatever to keep as many jobs as possible. Or a novel idea and work with Inbev to try and bring more jobs here, possible move their global hq’s here, money talks and you know what walks.
I have a feeling my days of drinking AB products is drawing to a close, if they do what they did to the Labatt’s employees and brewery (they closed the main brewery in Toronto)I’m done.
TRAITOR!!! How UN-American!!! When will it end?? The selling of American born business!!! Mr. Busch,I is spinning in his grave!!!
I am not surprised at Buffetts move, it’s not about money to him…it’s a game. This is what he does for fun, if it wasn’t he would be playing golf or lying on a beach somewhere. It is basically like playing high stakes poker, he is now playing his hand and he has caused two other players to go all in and he has the best hand. He does not care about how many people lose their jobs, he did the same thing to Gillette!!! just to name one other company.
I wonder do the Busch family and employees have enough stock to stop it?
It is big business and just the way of the world, we don’t have to like or support their bottom line with the purchase of their products.
The mismanagement of our country results in foreign companies coming in with their superior currencies and buying large pieces of America, such as AB.
W.B. has been alerting America of the dangers of deflating the U.S. dollar for years. But no one wants to listen. Everyone is too busy worrying about instant gratification that they are willing to sell our country at a huge long term expense in order to get a small rebate check now.
Our government has been running huge deficits and printing out money constantly, writing out $600 “rebate” checks, etc. This is not sustainable. Hostile countries like China own more of us everyday.
Get a grip people. The sky is not falling! It won’t be the end of the St. Louis economy. IF (and it’s a big if) the InBev management has the integrity to honor the traditions of AB here (as they have indicated they do), then the siginifgant changes may be: the InBev marquee on paychecks and the bottom line profits headed elsewhere.
AB is no angel either in their business practices. Ask the people in LaTrobe PA how they feel about their business having been gobbled up by an industry behemoth. Ask all the distributors how they feel about the rules and regulations AB places upon them in order to have that priviledge. So lets not posture that AB as being some scrawny, defenseless child on on the playground of corporate life.
Other reality - this is a public relations move on InBev’s point to have made this offer in public. They could just as easily make this a hostile takeover and buy as much stock in the open market as possible.
Think about it this way, if someone offered you 1.5 times the market value of anything you owned - car, house, stocks, gold, etc. - wouldn’t you take a hard look at the offer regardless of the sentiments attached to it?
BTW, the Busch family was Bavarian - naturalized American, and a wicked shrewd businessman. I think he might just be pleased about this.
Here’s a list of Buffett’s companies, if anyone would want to, uh, shop elsewhere….
Acme Brick Company
International Dairy Queen, Inc.
Applied Underwriters
Iscar Metalworking Companies
Ben Bridge Jeweler
Johns Manville
Benjamin Moore & Co.
Jordan’s Furniture
Berkshire Hathaway Group
Justin Brands
Berkshire Hathaway Homestates Companies
Larson-Juhl
BoatU.S.
Marmon Holdings, Inc.
Borsheims Fine Jewelry
McLane Company
Buffalo NEWS, Buffalo NY
Medical Protective
Business Wire
MidAmerican Energy Holdings Company
Central States Indemnity Company
MiTek Inc.
Clayton Homes
National Indemnity Company
CORT Business Services
Nebraska Furniture Mart
CTB Inc.
NetJets®
Fechheimer Brothers Company
The Pampered Chef®
FlightSafety
Precision Steel Warehouse, Inc.
Forest River
RC Willey Home Furnishings
Fruit of the Loom®
Scott Fetzer Companies
Garan Incorporated
See’s Candies
Gateway Underwriters Agency
Shaw Industries
GEICO Auto Insurance
Star Furniture
General Re
TTI, Inc.
Helzberg Diamonds
United States Liability Insurance Group
H.H. Brown Shoe Group
Wesco Financial Corporation
HomeServices of America, a subsidiary of
MidAmerican Energy Holdings Company
XTRA Corporation
Consider what is best for the share holders is what is best for America. We are a free market economy.
AB’s choices that led to its position of being a takeover target is what makes it less competitive. AB was pretending to be a publicaly held company while operating like a private one.
Most of America’s industries have experienced this pressure, and it ultimately keeps us stronger as an economy.
If AB escapes from this attempt with an emotional appeal its reprieve will be short lived. It will only be buying time to change its ways.
Buffetts position indicates a lack of confidence in AB’s decision making. We should pay attention.