Thursday, June 26, 2008

With A-B

Anheuser-Busch said today that it would formally reject a takeover bid from a beer rival. Patrick Stokes, A-B’s chairman, said that a $65 a share bid by InBev, was “financially inadequate and not in the best interests of Anheuser-Busch shareholders.”

Shareholders may ultimately make the final decision on this subject, but those shareholders who live in the St. Louis region or work for or with A-B breweries across the country have to already know that such a sale on the terms we have heard so far is not likely to be their interests.

We will certainly learn more about A-B’s own plans over the next week or so — and more about InBev’s promises. When we do, we’ll be better able to see where St. Louis stands.