June 26, 2007: The Anheuser-Busch board will reject the takeover bid by InBev, but Bud Teamsters aren’t out of danger yet.

Teamsters were already worried that if Belgian brewer InBev bought Bud, their working standards and benefits would be on the line.

The New York Times reports today that A-B will launch its own restructuring plan to cut $500 million in costs annually.

And InBev isn’t giving up either. The Belgian beer giant has lined up funding for a possible hostile takeover of A-B.

Read the full story in the New York Times.