All indications are that Warren Buffett will be supporting the InBev takeover of Anheuser-Busch (BUD). Buffett, who owns 5% of BUD’s stock–more than all of the Busch family combined–has been very positive about the deal, so his official support would be no surprise. However, this comes as little consolation to the people of St. Louis, who have branded him a traitor:
People in St Louis, Missouri, the historic home of Budweiser beer and its maker, Anheuser-Busch, reacted angrily to reports that Warren Buffett, the billionaire investor, is preparing to endorse the sale of the company to Belgian brewer InBev.
Mr Buffett was damned as “a traitor” and “un-American” as tempers in the city remained high, following the unsolicited $46bn offer which would pitch the iconic American beer into foreign ownership.
If BUD’s stock hadn’t been stagnant for nearly a decade and if the current CEO, Augustus Busch IV. had impressed people, it might not have come to this. When the folks in St. Louis finish their knee-jerk Buffett bashing, they might consider who they’re criticising.
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