AFP:   Breaking  |  World  |  US  |  Politics  |  Business  |  Entertainment  |  Life  |  Science   |  Odd  |  Sports
Americans rally round Anheuser-Busch after takeover bid
Share on Facebook Bookmark and Share
View larger image

A movement to fend off a proposed takeover of US beermaker Anheuser-Busch by Belgian-Brazilian InBev gained momentum Thursday as Missouri's governor voiced concern and opponents launched online petitions.

Governor Matt Blunt said in a statement late Wednesday that he found the news of the 46-billion-dollar bid "deeply troubling."

"Anheuser-Busch is a great Missouri company, a great employer, a great corporate citizen and the maker of great products that are enjoyed in Missouri and around the world," he said. "I am strongly opposed to the sale of Anheuser-Busch."

Blunt noted that "there is no immediate tool available at the state level" to block the sale.

But he ordered the state's Department of Economic Development "to explore every option and any opportunity we may have at the state level to help keep Anheuser-Busch where it belongs -- in St. Louis, Missouri."

Meanwhile a website, SaveBudweiser.com, was collecting signatures in an online petition opposing the sale of the maker of Budweiser, Michelob and other beers to the Belgian-based firm.

"We will need to scream now more than ever to make sure that the board of directors and others involved hear our voices and that we don't want them to accept the offer," said a notice on the website, the operators of which were not identified.

"In addition to great tasting beer, this company has provided thousands of domestic jobs as well as millions of dollars in charitable donations to nonprofit organizations, disaster relief and has a long history of environmental awareness."

As of Thursday, more than 34,000 people had signed the online petition.

Another website, SaveAB.com, collected over 12,000 signatures.

"With your help we can fight the foreign invasion of A-B. We will fight to protect this American treasure. We will take to the Internet, to the streets, to the marble halls of our capitals, whatever it takes to stop the invasion," a statement on the site said.

InBev launched its own site, globalbeerleader.com, to provide information defending a tie-up.

"InBev envisions making St. Louis the headquarters for the North American region and the global home of the flagship Budweiser brand," the company stated.

"In addition, InBev has proposed to name the combined company to evoke Anheuser-Busch's heritage, reflecting the strong history of Anheuser-Busch's key brands."

InBev also pledged to "maintain all of Anheuser-Busch's US breweries."

The top US beermaker acknowledged Wednesday "an unsolicited, non-binding" takeover bid from world leader Inbev and said it would "review the merits" of the offer.

The US firm based in St. Louis, Missouri said the offer was 65 dollars per share in cash, amounting to an estimated 46 billion dollars.

Anheuser-Busch said that its board of directors "will evaluate the proposal carefully and in the context of all relevant factors, including Anheuser-Busch's long-term strategic plan," according to a statement.

With a takeover, InBev, which claims the title of the world's biggest beer maker, would create close to a 100-billion-dollar business in the most ambitious act of corporate consolidation since last year's credit crunch shook the markets.

Anheuser-Busch, which traces its roots to the 1850s, has historically been cool on being sold, with the Busch family playing a major role.

It has "previously publicly forsworn selling the company," said a research note Wednesday from Jonathan Feeney, an analyst at Wachovia Securities.

"No doubt there will be backlash to InBev's offer, especially in a campaign year when there has been considerable rhetoric regarding the protection and preservation of American jobs," said Jeffrey Ham, an analyst at Briefing.com.

"Taking an iconic American brand like Anheuser-Busch overseas will stir the voices of both politicians and brand loyalists, all resisting the acquisition."

Anheuser-Busch shares rallied 5.2 percent to 61.40 dollars.


Copyright AFP 2008, AFP stories and photos shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium