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Thread: Warren Buffet Screws Anheiser Bush With InBev's Bid

  1. #16
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    Here's some more talk on the subject.

    http://articles.moneycentral.msn.com...gianLager.aspx

  2. #17
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    You guys are right.

    He is a democrat.

    He even wants higher taxes for the wealthy including himself. Now that is strange.

    http://www.nndb.com/people/445/000022379/

    http://newsbusters.org/blogs/jeff-po...warren-buffett

  3. #18
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    Yeah, a new tax bracket for billionaires: 110%.

  4. #19
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    ????

    Got me there too....thought he was repub too.

    Not even sure why or where I heard that??

    pf

  5. #20
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    Buffet only owns 5% of shares, what am I missing?

    Seems like August Anheuser Busch IV-Ted Kennedy act a like, is the real problem. See the following for this story.

    "Chilling a Deal for Bud

    By ANDREW ROSS SORKIN
    Published: June 17, 2008 NYT

    They call him The Fourth.

    Brewer Bids $46 Billion for Anheuser-Busch (June 12, 2008)

    As a child, he was a rambunctious little kid. As a teenager, he was a rebellious troublemaker, playing pranks and breaking his curfew. By college, his transgressions went well beyond youthful indiscretions: A woman he was with, a local waitress, was killed when his Corvette crashed at 6:30 in the morning. He fled the scene and was found with blood on him eight hours later. His close-knit family rallied around him, sent in high-powered lawyers, and the police dropped the investigation after evidence was misplaced.

    Two years later, he was involved in a high-speed car chase with the police and was accused of trying to run over an officer with his Mercedes. Again, the family’s lawyers swooped in and he was acquitted.

    When he graduated, he went to work for the family business. Now he is the chief executive.

    The company? Anheuser-Busch, maker of Budweiser.

    The Fourth is August Anheuser Busch IV, a descendant of Adolphus Busch, the founder of Anheuser-Busch. He just turned 44 on Sunday. He’s been running the company for about 19 months. Given his party-boy history — and, for that matter, given that he may have inherited his position more than earned it — it is perhaps not surprising that Anheuser-Busch is struggling, just as it has been for nearly a decade. Its more aggressive rivals, meanwhile, are growing at a rapid clip and becoming global.

    So The Fourth is now on the receiving end of a $46.4 billion takeover bid from InBev, the Belgian-Brazilian maker of Stella Artois, Beck’s and Bass run by Carlos Brito, a tough-as-nails executive.

    Mr. Brito’s offer of $65 a share in cash is a 35 percent premium over Anheuser-Busch’s 30-day average share price. And get this: The offer represents an 18 percent premium over the company’s record high of $54.97, a price Anheuser-Busch’s shareholders haven’t seen in six years.

    What shareholder — one of whom is Warren E. Buffett — wouldn’t want to take the $65? They may not get the chance if The Fourth has anything to do with it. The company’s board has said it “will evaluate the proposal carefully” and will make a determination in “due course,” a view that Anheuser-Busch reiterated to me on Monday, refusing to comment further. They always say that.

    Back in the real world, The Fourth, his father, August A. Busch III, and the board are already preparing to fight the offer, some people involved in the board’s deliberations said. (Other people tried to persuade me that they were all working in “good faith.”)

    The Fourth told a meeting of beer distributors in Chicago in April, when rumors were swirling about the company’s ability to remain independent, that no sale would happen “on my watch.” Anheuser-Busch hired Goldman Sachs before the InBev bid was formally made, along with Citigroup, and both banks have been working overtime to build “fantasy” models that show the company is worth much more than InBev’s offer. They always do that, too.

    Anheuser-Busch’s board is so stacked with Busch family members that some of its independent directors — which include Edward Whitacre Jr., the former chairman of AT&T — have privately explored the possibility of hiring their own lawyers to get independent legal advice, outside of Skadden, Arps, Slate, Meagher & Flom, which is representing the company, people involved in the talks said.

    The board has historically been criticized for its governance: The Corporate Library gives Anheuser-Busch’s board a grade of D, citing, among other things, conflicts on the board. For example, the company paid $12.2 million to Enterprise Rent-A-Car — its chief executive, Andrew C. Taylor, is on the board.

    And how much stock do the Busches own? Would you believe 4 percent — even less than Jerry Yang’s stake in Yahoo? Of course, some of the family’s reasons for wanting to hold onto the company have nothing to do with rewarding shareholders, and everything to do with holding onto a company around which their family identity revolves.

    Already, family members and some members of management have been busily campaigning behind the scenes in St. Louis, where the company is based, to keep Anheuser-Busch from being taken over. They are trying to make the deal a political issue. Locally, it’s a hot topic.

    Over the weekend, a mini-march took place before the Cardinals game against the Phillies with T-shirts and buttons calling to save Anheuser-Busch. A Web site, saveab.com, already has some 30,000 signatures, including those of the governor of Missouri and the mayor of St. Louis.

    But before The Fourth and his family go too far, they should consider that their approach could backfire. Mr. Yang, the founder of Yahoo, learned the hard way just how far saying no gets you. He might lose his job because of the lengths he went to thwart Microsoft. The Bancrofts, which sold Dow Jones to Rupert Murdoch’s News Corporation under duress, also learned what saying no can mean: they didn’t get a dollar more than the original offer and embarrassed themselves in the process.

    That is not to say The Fourth shouldn’t seek a higher offer. (The company will most likely say that its growth trajectory makes it worth more, and will question InBev’s financing.) But it does mean trying to reach a friendly deal as quickly as possible. Otherwise, the deal could turn into a months-long soap opera revealing just how dysfunctional the family can be.

    (The Fourth and his father have long had a strained relationship. Other colorful characters in the family could emerge: Years ago, The Fourth’s cousin Peter accidentally killed his friend with a rifle in his home.)

    One person involved in the talks said: “We all know how the story ends. It is just a matter of how we get there that could make this interesting.”

    In the end, Anheuser-Busch’s defenses are weak. There’s no staggered board and shareholders can act by written consent — meaning they can oust the board at any time quite easily. But that’s not the real point. The Busches have done a miserable job of managing the company, and shareholders have suffered.

    So rather than just say no, The Fourth should sit down with Mr. Brito of InBev. And bring a Bud."

    http://www.nytimes.com/2008/06/17/bu...7sorkin.html?_
    Last edited by Don; 06-18-2008 at 06:00 PM.

  6. #21
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    Don,

    Thanks for the read.

    It was my understanding that this was an attempt to take over Anheuser Bush sort of like a hostile takeover I guess.

    I still don't welcome the deal either way.

    I think it will be the end of a great company.

    BC

  7. #22
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    Quote Originally Posted by brad541thb View Post
    You guys are right.

    He is a democrat.

    He even wants higher taxes for the wealthy including himself. Now that is strange.
    All who believe that taxes should be higher need to be reminded:

    The Tax calculation that you perform for the IRS is the MINIMUM Allowable, if you think it's too low, you should feel free to write a bigger check.

  8. #23
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    Don,

    This is a bit older, but according to this the Anheuser Busch don't want the takeover to take place.

    http://www.myfoxstl.com/myfox/pages/...Y&pageId=3.2.1

  9. #24
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    Rock,

    I hope you weren't quoting me on that in reference to me.

  10. #25
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    Quote Originally Posted by brad541thb View Post
    Don,

    Thanks for the read.

    It was my understanding that this was an attempt to take over Anheuser Bush sort of like a hostile takeover I guess.

    I still don't welcome the deal either way.

    I think it will be the end of a great company.

    BC
    The reality of this takeover, if it is succesfull, is that the majority of the controlling stock issues traded will come from deals cut with huge American govornment and corporate employee pension and hedge funds, the major holders in this company.

    With only a 4 % holding in the company, the Busch family sold out this company along time ago...................Don

  11. #26
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    I see your point.

  12. #27
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    Quote Originally Posted by brad541thb View Post
    Rock,

    I hope you weren't quoting me on that in reference to me.
    You provided an excellent citation of a person who thinks taxes should be higher. To that person (and any who agree with him) I reply: Get out your checkbook and pay up now. Don't come after the rest of us because you think taxes are too low, instead you should write the check. IRS sets the MINIMUM required payment, you are free to increase the amount of your check to whatever level makes you feel good.

    No brad, I don't know you or your politics so I did not intend to fire that shot at you personally, unless the above description fits your feelings on the issue.

  13. #28
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    Ok. No, I'm with you on that one.

  14. #29
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    Hardly a blip on the radar. The screw the pooch mentality has been going on since the first so called oil shortage in the 1970's.

    Just one more in a long line.

    I said it in the 70's and I say it again today. "You just don't sell America down the river in a day". Please remember that HELL wasn't built in a day.

  15. #30
    Mr. D is offline Varminter w/small groups
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    Youse guys is often missinformed! I'm so surprised (not) at you! Buffet has always been the poster boy for liberal Democrats! He always irritates conservatives because he is one of the richest men in the world, but can still be objective about politics and taxation. Example: With all the silly B.S. about overtaxing the rich that average Republicans fall for he proves every year that he pays lower than 15% on his billions! (15%, minus deductable expenses) That pi$$es off those average Republicans that like the poor rich people myths and stories about farmers losing their land to the inheritance tax! Myths!!

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