Today we are witnessing the death of a great American icon- Anheuser-Busch (of the Budweiser fame) is being sold to InBev, the Brazilian-Belgian beer company.
BBC reported the following:
The US brewer Anheuser-Busch has agreed to be taken over by Belgium-based InBev, in a move that will create the world’s largest beer maker. The $52bn (£26bn) takeover bid by InBev, which makes Stella Artois beer, was accepted by Anheuser’s board. The combined company will now be called Anheuser-Busch InBev.
(To read the whole story, click here)
I don’t think this kind of merger would have been remotely plausible following the post 9/11 surge of patriotism- we would have been calling for heads on sticks. Now the news comes after Anheuser had expressed marked disinterest in the deal when InBev approached them originally. However, all is not lost. The BBC article continues:
There are widespread fears that the deal will lead to substantial job losses in the US Midwest at a time while the threat of recession is hanging over the economy. The two firms have said the deal will generate annual savings of $1.5bn but have suggested that job losses will be kept to a minimum because there is little current overlap between the two businesses… The deal should give Budweiser a platform to boost its growth in Europe where, apart from a number of markets like the UK, it has been relatively weak.