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This Board's Not for You

InBev steps up the pressure on Anheuser-Busch.

Last Trade:Change:
Primary executive:
August A. Busch, IV,
Summary:
The Company's operations are comprised of the following principal business segments: domestic beer, international beer, packaging and entertainment. View More
August A. Busch, IV
Industry:
Food and Beverage
Biography:
August A. Busch IV, President and Chief Executive Officer of Anheuser-Busch Companies, Inc., a brewing organization, since … View More

The takeover battle between Anheuser-Busch and Belgian-Brazilian brewer InBev has escalated with a filing by InBev asking shareholders to remove and replace the board of Anheuser-Busch.

InBev, the maker of Stella Artois and Beck's, has repeatedly said that it is interested in a friendly deal with the brewer of Bud, which has rejected the $46 billion offer as "inadequate."

But today's preliminary consent statement filing shows that InBev is prepared to play hardball. Like Carl Icahn's proxy challenge against Yahoo, the move is a ploy to force Anheuser-Busch to the negotiating table.

InBev's rival slate of nominees to the 13-member board has something of a trump card: Adolphus Busch IV, great-grandson of the company's founder and uncle of August Busch IV, the current C.E.O. of Anheuser-Busch. Other potential board members include Hank McKinnell, last seen bailing out of Pfizer with a $200 million golden parachute, and Ronald Dollens, former chief executive of heart-device maker Guidant.

A merger of the two brewers makes sense given that the industry faces slowing sales and rising commodity costs. But some have questioned the $40 billion in financing in InBev's offer. And a deal is already running into political opposition.

 


 



 
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