jeff: would the Busch's be able to resist if the stockholders who for some unknown reason think that this was a good idea?

dnicklaus: First of all, the Busch family controls less than 4 percent of the stock. So, ultimately, they may not be able to control the company's fate. However, August Busch IV is the chief executive, and the directors probably all feel some loyalty to the Busch family. As CEO, he'll have to convince the board and the shareholders that, over the long term, Anheuser-Busch can be worth more as an independent company.

DPF: Do you see AB making a counter offer to purchase InBev or parts of it? Besides the purchase of Groupo Modelo, are there any other potential acquisitions out there that AB might benifit from?

dnicklaus: No, DPF, I don't think a counter offer for Inbev is in the cards. First of all, Inbev has a complex ownership structure that would make a bid for it difficult. Second, the weak dollar/strong euro would make a counterbid tremendously expensive for A-B.
There are other companies A-B could try to buy in order to become a more global player -- Heineken, for instance. But, there again Heineken has strong takeover protections in place. Given the existing relationship with Modelo, that's the possibility analysts seem to be focusing on.

mark: So AB could buy the remaining half of Modelo and theoretically make itself too big for InBev to swallow. Does it make business sense or is it purely a defensive move? If it's a good business decision, why hasn't AB already pulled the trigger?

Thanks.