Anheuser-Busch’s (BUD) stock closed up over $5 at $66.50 on Friday and is trading at $67.00 after-hours. This price suggests the market is nearly certain that InBev will buy BUD at the rumoured $70/share, and it may even incorporate the expectation of an additional price increase: given the political scrutiny this deal will receive, a 5% gap between the trading price and deal price is small.
In other news, InBev’s potential purchase of BUD is reverberating through St. Louis and the country…and folks aren’t happy about it:
Jordan Moore took the news that his beloved Budweiser could soon fall into foreign hands very personally: He decided he would scrap his plan to get the logo of the King of Beers tattooed on his right rib cage.
“I’ll tell you one thing,” said the 21-year-old concrete worker during his lunch break at The Brick of St. Louis bar, in the shadow of this city’s storied Anheuser-Busch Cos. brewery, “if Budweiser is made by a different country, I don’t drink Budweiser anymore. I’ll go back to Wild Turkey.” (Wild Turkey, a Kentucky bourbon, is owned by French drinks giant Pernod Ricard SA.)
Full BUD-InBev Coverage and Analysis
InBev Raises Anheuser-Busch (BUD) Bid To $70/Share (BUD)
Anheuser-Busch (BUD): Suddenly Close To An InBev Deal At Higher Price (BUD)
Obama Beats McCain to the BUD Pander Card: Anheuser-Busch (BUD) Should Stay American (BUD)