June 27, 2008: The board of Anheuser-Busch has rejected InBev’s bid to purchase the company, but the takeover is far from over.
Yesterday in court, InBev filed a suit claiming that A-B shareholders can remove all 13 board members at the brewer’s annual board meeting. The suit is the likely first step in a hostile takeover bid.
Meanwhile, A-B management announced that they intend to cut 1,300 jobs by offering early retirement buyouts.
Read more:
St. Louis Post Dispatch: A-B Board Rejects InBev Offer
St. Louis Business Journal: A-B Cuts to Include Up to 1,300 Early Retirements
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