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11.12.2008 11:46 pm

And we’re back! More from the Anheuser-Busch shareholders meeting

St. Louis Post-Dispatch
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Folks, I very much appreciate your patience and strong feedback. I’ll try to get to some of your comments soon. For now, a little more news on Anheuser-Busch’s big day in New Jersey, in which shareholders voted strongly in favor of InBev’s takeover.

We caught up with Anheuser-Busch chairman Pat Stokes and chief financial officer Randy Baker when the meeting broke up. Excerpts of the brief chat:

Baker said the deal has “a high certainty of closing.” No news there, since both A-B and InBev have been saying that for months. But then someone piped up and asked what would happen if “they” (presumably InBev or its big lending banks) get downgraded. Baker said that is “unexpected.” He said the companies are still projecting a closing day before the end of the year. If approvals come down from regulators, the closing could be just a few days after, he said.

What about raw feelings in St. Louis, or frustrations among beer drinkers who wanted Anheuser-Busch to stay “American”?

Stokes said it “will be up to the new leadership to forge the relationship with the St. Louis community.” On whether a significant number of drinkers would move away from Anheuser-Busch because of the sale, he said probably not. The beer industry is “globalized to a large degree,” he said, noting the combinations of Molson Coors (Canadian and American) and SABMiller (South African and America). “This is no longer a situation where you have just one country alone,” he said.

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One comment

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The smart/experienced ones were just let go, so at least you spoke to one of the smart ones. (re: your article “Eight Top exec’s to leave) Financing???? hmmmmm…a few of those banks were just bailed out by the US government and the housing bailout is now off the table!!!! That seems kind of dirty pool considering of the massive cuts from Inbev in the near future.
Forging a relationship in STL community??? How do you cut/outsourse a few thousand jobs +/- and maintain ANYthing with dignity? Community responsibility will not be his responsibility because it does not pertain to beer. PERIOD. If the majority of the votes were held with individuals and not major funds this vote would not have passed.
Now let talk financing since it seems to be the 800lb gorilla in the room.

— keri
12:29 am November 13th, 2008