The InBev/Busch Discussion Thread

9/23/09 - Nearly Done Deal - Blackstone Buys InBev Parks!
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The InBev/Busch Discussion Thread

Postby milst1 » Fri Jul 11, 2008 7:13 am

This development is likely bad news for the theme parks. InBev will almost certainly try to sell the parks if the takeover happens. I was hoping the takeover would fail but this article suggests that the deal is done. My guess is that InBev-AB will spin off Busch Entertainment aka Worlds of Discovery into an independent company because I don't think there are any buyers. And then we'll see the quality of these parks go downhill. :cry:

The Wall Street Journal Article is below:

InBev Boosts Offer for Anheuser-Busch
By DENNIS BERMAN, DANA CIMILLUCA and DAVID KESMODEL
July 11, 2008 9:53 a.m.

InBev NV boosted its takeover offer for Anheuser-Busch Cos. by $5 a share to $70 in an effort to seal a friendly deal with the iconic U.S. brewer, a person familiar with the matter said.

After weeks of escalating tensions since InBev launched its $46 billion takeover offer for Anheuser a month ago, the two sides are negotiating a friendly deal, according to people familiar with the matter. Anheuser's board is likely to accept the new offer, which amounts to about $50 billion, this weekend, one of the people said, adding that so-called social issues including what the combined company would be called still need to be worked out.

Anheuser and InBev spokespeople couldn't immediately be reached.

Anheuser officially spurned InBev's $65-a-share offer two weeks ago, saying it "substantially undervalues" the company.

News of the new offer comes just days after InBev signalled its willingness to make a hostile takeover offer if necessary. On Monday, the Belgian brewer put forward a slate of directors to replace Anheuser's board. It said that "to date, Anheuser-Busch has been unwilling to engage with in a dialogue." Anheuser subsequently filed suit against InBev, accusing it of making false and misleading statements.

A lukewarm response from Anheuser shareholders to the company's defense strategy may have contributed to its willingness to open negotiations. When Anheuser rejected InBev's offer, it announced a stepped-up cost-cutting program aimed at boosted its share price.

Besides the cost and time a protracted takeover fight would entail, a friendly deal could help InBev keep key Anheuser management in place and avoid alienating the U.S. company's distributors, a person close to the deal said.

The combination would create the world's largest brewer with net sales of about $36 billion annually. The two giants market about 300 brands on six continents, producing in total 10 billion gallons of beer each year. InBev and Anheuser are the second- and third-largest brewers in the world in terms of volume, respectively, after London's SABMiller PLC.

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Postby Tikifire » Fri Jul 11, 2008 7:43 am

This will be interesting to watch and see what happens with the
Busch Parks. I honestly wouldn't be surprised if they are sold to Disney. It would give Disney parks in Texas (rumored building site for Disney for years now) and in Virginia which was the site of Disney's failed America park concept. Plus they would now own several more parks in Orlando and central florida... I could see it working

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Postby packfanlv » Fri Jul 11, 2008 7:52 am

I just don't see anyone buying the parks. Disney doesn't want to water down their brand by adding six new parks in my opinion. As someone said before, they probably will just spin off the parks into their own company. Lets hope the current management stays in place.
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Postby SharkTums » Fri Jul 11, 2008 7:57 am

As long as Cedar Fair doesn't show an interest I'm okay! ;)

Seriously though, like others have said, I'm guessing they will spinoff into their own entity with most of the current management still in place.

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Postby ginzo » Fri Jul 11, 2008 7:59 am

SharkTums wrote:As long as Cedar Fair doesn't show an interest I'm okay! ;)

Seriously though, like others have said, I'm guessing they will spinoff into their own entity with most of the current management still in place.


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Postby milst1 » Fri Jul 11, 2008 7:59 am

^^^^
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Postby swampfox » Fri Jul 11, 2008 8:02 am

Hopefully if they do split the parks into it's own company, it works better than when Paramount handed over the reigns to CBS. I still feel this is not good news, but it doesn't necessarily mean it's bad news either.

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Postby mcjaco » Fri Jul 11, 2008 8:48 am

I'm surprised they didn't mention the fact that Anheuser Busch has filed a suit against InBev's tactics. This is going to be ugly any way you slice it.

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Postby Tikifire » Fri Jul 11, 2008 8:59 am

I wondered also why they didn't mention the lawsuit. The diluting of their brand is the only reason I could see Disney not buying them, but then again, who knows. It would be interesting to see what Disney would do to the Gardens and Sea World parks either way.

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Postby BeemerBoy » Fri Jul 11, 2008 9:08 am

Disney doesn't acquire parks....they build them. And personally, I hope it stays that way. Although, theoretically, I agree that they might seemingly be the only logical choice capable of continuing the level of commitment that Busch has established with their lineup.
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