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Anheuser-Busch Formally Rejects InBev Offer As 'inadequate'

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June 26, 2008 – Comments (0) | RELATED TICKERS: BUD

SAN FRANCISCO -- Anheuser-Busch Cos. formally rejected the $65-a-share bid from InBev to acquire the company, calling the offer "financially inadequate." The St. Louis-based brewer said its board unanimously rejected the offer. "InBev's proposal significantly undervalues the unique assets and prospects of Anheuser-Busch," said Anheuser-Busch Chairman Patrick Stokes in a statement. The company told InBev in a letter its $46 billion offer did not account for Anheuser-Busch's iconic brands, market position, growing international partners and accelerated earnings growth.

Copyright © 2008 MarketWatch, Inc.

Looks like TMFDeej was right (and naturally, I agreed).

Bud story.

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