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06.18.2008 11:04 am

“Save A-B” group criticizes InBev director

St. Louis Post-Dispatch

The organizers of SaveAB.com, whose previous efforts to stop a certain brewery merger consisted mostly of posting an online petition and wrapping themselves in the flag, posted a statement yesterday that criticizes a member of InBev’s board.

The director,  Jean-Luc Dehaene, is listed on InBev’s website as an “eminent Belgian politician and member of the European Parliament.”

SaveAB.com says it “investigated” Dehaene to learn of his role in the European Union’s governing body. Its statement adds:

“It is wrong for an American company to be taken over by a board comprised of a voting EU member” stated Ed Martin, a founder of SaveAB.com. “This man is setting policy for the EU and impacting the American economy – he clearly has a confict of interest. This indicates yet another reason that the InBev hostile takeover must fail.”

This seems like a pretty thin reed with which to lash out against InBev’s $47 billion offer for Anheuser-Busch. It’s not unusual in this country, either, for companies to have politicians as directors. St. Louis’ own Richard Gephardt serves on the board of Centene, among other companies. 

If you want to look for interesting connections on InBev’s board, I would start with Jorge Paulo Lemann, a Brazilian investment banker who is one of the major builders of what’s now InBev. Lemann served on the board of Gillette before it was sold to Procter & Gamble in 2005. One of his fellow directors there was Warren Buffett, who’s also an important A-B shareholder.

 

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5 comments

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The Oracle of Omaha a**? More like the Puppeteer from Omaha. Lemann and Brito would be the puppets of course. I wonder how long ago they all got together and hatched this little plan? Maybe before he even bought the Busch stock? This is a risky buy for ImBev in my opinion.

— Jack
3:28 pm June 18th, 2008

Concerning buffet, how much money does this old man need? I think it is a game for him. Also as far as Carlos Brito, I’m completely sick and tired of these CEO’s that step in during these ‘friendly mergers’ grinning and promising the world (Terry Lundgren). “Nothing will change, your job is secure, this is a GREAT deal for the companies, employees, cities” etc. This man is a figurehead to calm your fears, and in a year or maybe 3, the bomb will drop out of the blue. My hope for the AB employees is that these people offer at least give proper outplacement assistance like macys did, I can give them that much credit. My advice to AB employees? Sell your stock right when the deal passes (it will) and before it starts to drop (it will) and start updating your resume.

— Jaco
12:17 am June 19th, 2008

How come no one is criticizing AB III when he had the change to convince
the board ten years ago to buy Interbrew and AmBev? No, he stuck his head in the sand and thought AB would live on its own forever. I sold my AB stock in 2003 and never regretted it, even with the recent bump up.

Jaco - how much does Warren need? Answer: A lot more.
Why? The more money he makes, the more money I make.
I own BH stock.
You should too.

— Scott_Simon
7:36 am June 19th, 2008

The political side of the deal has now been set. All of the board members of InBev need a complete security background check, before any deal made with AB or any other US Company…… It is time to forget about the big bucks and look at the real reason for this hurry up and take the deal…

— Mabel Williams
12:25 pm June 19th, 2008

Look, I understand that people in STL feel like A-B is a part of them and part of the city, but can we stop with the xenophobia? Security checks for the InBev board because they want to buy a publicly traded American beer company for a considerable premium?? Not exactly national security at stake here and not exactly a tough decision for shareholders.

The bottom line on this is that A-B is not who St. Louis is anymore. It isn’t the top employer in the city (that would be BJC/Washington U), it isn’t a growing company, and it isn’t an exciting place to work anymore. Much like the 1904 World’s Fair, A-B is more about what St. Louis used to be than what it is or what it needs to be in the future. Of all the companies that STL has lost in the past few years, by far the biggest loss was Southwestern Bell (now AT&T) and there wasn’t anywhere near this gnashing of teeth about it.

My hope is that the Busch’s, the Knight’s and all of the other hidebound power structure that has limited St. Louis’ movement into a modern city for the past 20 years will finally move out. It is way past time for this city to get behind the life science revolution, become a lot more tech-friendly and look to modern, growing industries for the future.

Rather than bash InBev management, the city would do itself a favor by doing everything it could to make St. Louis as business-friendly an environment as possible for the North American HQ of a massive international beverage company. Like it or not, Busch III and Busch IV mismanaged A-B by being far too conservative over the past 10 years. A-B is a dead company walking. If it isn’t InBev, it will be another company that sticks in the knife. People here are whining about Macy’s takeover of MayCo. Well, May was managed a lot like A-B for the last 10 years of its corporate life - management failed to see the market moving on them and they ended up without anyplace to go.

I just hate to see this constant denying of reality when time and energy could be spent much more productively.

— timm121
11:28 pm June 19th, 2008