New York (HedgeCo.Net) – Budweiser maker Anheuser-Busch is suing InBev after declaring that their “bargain price” offer of $65 a share is illegal. Anheuser-Busch accuses InBev of using “deceptive conduct” to try to win control of the company. <\/p>\n
InBev recently filed a consent solicitation statement with regulators in an attempt to take over Anheuser-Busch’s board. In the new suit, Anheuser-Busch is seeking an injunction against them, in hopes of quelling any form of takeover. <\/p>\n
They also claim that InBev was spewing false rumors of an acquisition last month and their attempts to take over the board is a "self-serving effort" to try to purchase the company at a lowered price. <\/p>\n
"To date, Anheuser-Busch has been unwilling to engage with InBev in a dialogue to achieve a friendly combination. As such, InBev believes it is time to take action to ensure Anheuser-Busch shareholders are provided the opportunity to have a direct voice in the process and a say in the future direction of the company," according to a recent statement by InBev.<\/p>\n
Anheuser-Busch also claims in the suit that InBev does not have sufficient financing to facilitate the $46 billion takeover bid stating, "Given the state of the credit markets today, no group of financial institutions would unconditionally commit $40 billion to a borrower to pursue a hostile acquisition."<\/p>\n
With St. Louis serving as the battlefield for the case, InBev placed a full-page ad in yesterday’s St. Louis Post-Dispatch. The ad stated that Budweiser would be expanded globally and the takeover would make for a stronger, more competitive global company. <\/p>\n
Anheuser-Busch shares closed at $61.76 at a share on Tuesday.<\/p>\n
Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net<\/p>\n
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds! <\/p>\n","protected":false},"excerpt":{"rendered":" New York (HedgeCo.Net) – Budweiser maker Anheuser-Busch is suing InBev after declaring that their “bargain price” offer of $65 a share is illegal. Anheuser-Busch accuses InBev of using “deceptive conduct” to try to win control of the company. InBev recently […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[156,67,110,595,230,1387,340],"class_list":["post-8071","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news","tag-brian-l-roberts","tag-chief-executive","tag-due-diligence-service","tag-handsome-returns","tag-institutional-marketing","tag-san-antonio-business","tag-savings-and-loan-crisis"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8071"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8071\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Be sure to check out our sister sites. For more information, visit www.hedgeconetworks.com<\/a><\/p>\n