ST. LOUIS (AP) - Belgian Brewer InBev is offering a big payday to shareholders of Anheuser-Busch Cos. (BUD) (BUD) Inc., but its bid to create the world's largest beer company is already facing a major obstacle - U.S. election-year politics.The other interesting political angle is that John McCain's wife, Cindy, is a multi-millionaire distributor for Anheuser-Busch. I'm sure McCain will get asked about this, and those will be the easiest questions he answers all year. No politician is going to come out in favor of selling an iconic American company to a bunch of "furriners".
InBev SA, whose brands include Beck's and Stella Artois, delivered an unsolicited all-cash bid of $65 a share for Anheuser-Busch, which makes Budweiser, Michelob and Bud Light. That's well above the St. Louis-based company's closing share price of $58.35 Wednesday.
But politicians and activists are already lining up against the deal, saying it could cost jobs in the United States and send ownership of an iconic American company overseas. With economic concerns at the front of voters' minds, the opposition could cause a headache for InBev.
Republican Gov. Matt Blunt said Wednesday he opposes the deal, and directed the Missouri Department of Economic Development to see if there was a way to stop it.
"I am strongly opposed to the sale of Anheuser-Busch, and today's offer to purchase the company is deeply troubling to me," Blunt said in a statement.
Web sites have sprung up opposing the deal on patriotic grounds, arguing that such an iconic U.S. firm shouldn't be handed over to foreign ownership. One of the sites, called SaveAB.com, was launched by Blunt's former chief of staff, Ed Martin.
"Shareholders should resist choosing dollars over American jobs," Martin said in a statement Wednesday night. "Selling out to the Belgians is not worth it - because this is about more than beer: it's about our jobs and our nation."
And, I don't think the Budweiser Dodge will look as good with a Belgian flag on it.
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