Bud Got Bought (Updated)

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.

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