InBev: Get on board or get off board
TEXT OF STORY
Scott Jagow: Now, let’s update three corporate sagas. First, the Weather Channel has finally been sold. NBC Universal and two private equity groups have agreed to buy it. We’re hearing the price is $3.5 billion.
There’s a report this morning that Microsoft will try again for Yahoo . . . if Yahoo’s entire board is replaced.
And the Belgian beer company InBev is trying that move on Anheuser-Busch. Here’s Alisa Roth.
Alisa Roth: InBev filed papers with the SEC today. It wants to get rid of Anheuser-Busch’s board, with the idea a new board might be more receptive to a takeover offer.
Wim Hoste is an equity analyst with KBC Securities:
Wim Hoste: InBev is going off to various options and scenarios in order to try to make its bid friendly.
Two weeks ago, Anheuser-Busch rejected InBev’s offer of $65 a share. Anheuser was trading at 50 bucks back then.
Hoste says that premium means InBev could eventually succeed:
Hoste: It’s clear that InBev offers a premium to the share price that Anheuser-Busch management and Board of Directors have been able to achieve alone in the last couple of years.
InBev says it wants an answer about the board in 10 days. If the merger goes through, the combined company would be the world’s largest brewer.
In New York, I’m Alisa Roth for Marketplace.
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