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Grupo Modelo CEO resigns from A-B board
STAFF REPORTS
Anheuser-Busch Cos. announced Friday that Carlos Fernandez, the CEO of Mexican brewer Grupo Modelo, has resigned from A-B's board of directors. Last week, the Wall Street Journal reported that both companies had preliminary discussions, but analysts remain skeptical that a deal is possible. They say relations between the two companies have been tense, adding that family-run Modelo would be reluctant to yield control of the business. How the resignation fits into this drama is unclear. However, a Modelo deal appears to be A-B's best -- and most realistic -- defense against InBev's $65 a share offer, according to analysts. Barring a deal, they believe the board will be under tremendous pressure not to reject outright an InBev offer. Instead, the board might try to negotiate a better share price price offer for the company. Meanwhile, InBev continued its public relations campaign against the St. Louis brewer. This morning, the Belgian brewer posted a video clip of InBev CEO Carlos Brito making another pitch, explaining how the deal would benefit St. Louis and other A-B stakeholders. |
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