BUD’s poison pill to avoid the InBev takeover, a merger with Mexican brewer Grupo Modelo, doesn’t seem to be working out the way they had hoped.
First, InBev nicely warned BUD that the ploy would only serve to destroy shareholder value.
Now the Grupo Modelo CEO, Carlos Fernandez, has resigned from BUD’s board to get out of the way of the BUD-InBev deal. Plus, the group of Mexico City families that own Grupo Modelo already said they want to remain a Mexican-owned company. While that sentiment might not be enough to stop a takeover, BUD shareholders have given no indication they will stomach more tomfoolery from the Busch family.
With BUD’s stock still steady around $61, the odds haven’t materially changed around the InBev deal. It doesn’t appear investors are that worried about Anheuser-Busch sabotaging the $65/share offer.
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