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General Motors Corp on Wednesday reported an 11 percent drop in third-quarter global auto sales and said it is reviewing upcoming vehicle production plans as it aims to conserve cash in the face of mounting pressure in the United States and other key markets. A merger may happen…
Business Buzz After lengthy negotiations, Belgian beverage giant InBev acquires Anheuser-Busch to create world’s largest beer maker. While the final decision is yet to be made, the talking heads are all saying that InBev’s hostile offer of $65-a-share will be much too low for the board to consider. That said, let us toast to the news and enjoy the heavenly delights of the “King of Beers.” Update: In response to Anheuser-Busch’s refusal, InBev is raising the pressure by moving to oust the company’s board and deal directly with shareholders. If InBev can secure a majority support, the company can move ahead with takeover plans. Update 2: InBev raises their offer to $70 a share, or $50 billion, in an effort to reach a friendly agreement. Update 3: InBev and Anheuser-Busch reach an agreement for $70 a share, creating the world’s largest beer maker.
Business Buzz IFC Entertainment signed a two year deal with Blockbuster, giving the retailer a 60-day window on U.S. rentals and downloads of IFC titles before they’re sold. Blockbuster will also regain exclusive rental rights for three years following any film’s release. We’re not looking forward to having to rent the censored version of Paranoid Park.
Tech Buzz A Microsoft/Yahoo deal would create a legion of weird new hybrids. Mircosoft Del.ici.ous, anyone? How about Hot Yahoo Mail? We can’t really get what $44.6 billion looks like, but we could imagine the bad things Microsoft could do to Flickr. Hence our personal favorite anagram of both company names: Hot, Roomy Fiasco. Update: Yahoo says no thanks.
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