Posted Sunday, July 13, 2008 11:54 PM | Contributed by Jason Hammond
U.S. brewer Anheuser-Busch agreed to a $50 billion takeover by Belgium-based InBev, a source familiar with the situation said on Sunday, creating the world's largest beer maker. There is no word yet on how the company's theme parks will be affected.
Read more from Reuters via Yahoo.
Sunday, July 13, 2008 11:59 PM
I read on the napkins at Busch gardens Europe last Friday, "The only American beer manufacturer in the world!"
Guess that they'll have to change the napkins...lol.
Monday, July 14, 2008 12:51 AM
Are you sure it said that? Because that would be completely false.
I know that they have worded in the past that they are the only big American Brewery owned by Americans. This obviously was a jab at Miller Brewery because they were bought by a South African brewery company.
Kind of a shame that they preach this and then succumb to InBev but I guess if the price is right, roll with it.
Hopefully InBev says what they promised and does what has happened to Miller. In this case, you won't know the difference.
As far as the parks, now that leaves alot of questions.
Monday, July 14, 2008 12:54 AM
Monday, July 14, 2008 1:47 AM
Well, I put the quotes there, but I really didn't remember the phrasing word for word. It bragged that Busch was the only American owned beer company.
I hate to see all of these businesses being bought out from oversea companies. I like Americans to own American companies.
Monday, July 14, 2008 7:22 AM
The dollar is weak now, which makes the few big American owned companies attractive for purchase. A country can not survive on services alone, which we may learn the hard way, based on how things are going.
Back to topic, I hope the parks aren't affected....
Monday, July 14, 2008 7:59 AM
Their slogan was something to the effect of, The only MAJOR brewery owned by Americans. They obviously don't include the thousands of breweries making less than 20k barrels a year.
Who's next Heinz? Ford?
Monday, July 14, 2008 10:06 AM
And who would buy Ford? Ford makes junk cars.
Monday, July 14, 2008 10:11 AM
Correction Ford makes great cars we just do not get them here in the States.
Monday, July 14, 2008 10:22 AM
In Bev is just that, beverages. The parks are either going on the market, or perhaps current management can buy it out, that is if the Federal anti trust regulators give the green light to the buyout. The Congressional contingent from Missouri is promising to put pressure on to prevent the sale, so we shall see.
Monday, July 14, 2008 12:29 PM
This Bud's for EU
Monday, July 14, 2008 3:37 PM
Another company, gone...
Monday, July 14, 2008 4:01 PM
As Dutchman says it is a waiting game on the Anti-Trust on both sides of the fence.. Our country and across the water. Its the last set back that could possibly make or break this deal. (Hopefully break).
As far as the parks are concerned.. the problem is INBev will take on a $7 Billion loan in order to keep all the breweries open. This would have to be paid off by selling off "non-assets". However they havent stated exactly what the non assets are.. In Virginia, they could be assumed as BGE and Water Country as well as the Kings Mill Resort down the street. However no word is being passed on that officially..
I think they are mostly waiting till they pass the Anti-Trust "road block" before they announce that kind of information. However its going to be a high dollar for any 3rd party to purchase BEC parks, individually or together.
Monday, July 14, 2008 4:33 PM
Considering the share prices right now for FUN and SIX, this might be the time for someone with some financial wherewithal (and industry knowledge) to take the BEC parks away from INBev for a really good price.
Calling HFEC....you all interested? :)
Monday, July 14, 2008 5:22 PM
Interesting thing though.. since Busch had been considering a park in Dubai, http://www.bizjournals.com/tampabay/stories/2008/02/25/daily45.html
, there is actually rumors floating around that the Prince of Dubai may have vested interests (and one of few who could afford those interests).. However this is all rumors passed around the park today. Still needs to get past anti-trust.. (I feel if I keep saying it.. it wont happen)
Monday, July 14, 2008 9:20 PM
Well maybe Coors should try their hand in running them ;).
Monday, July 14, 2008 11:12 PM
Coors Gardens sounds just...eww! :)
I wonder if they are going to keep the name "busch"
Tuesday, July 15, 2008 7:06 AM
According to today's (7/15/08) papers out here in N.J. InBev expects to "wring out" $1.5 billion in annual savings and drop "non core assets".
Tuesday, July 15, 2008 6:45 PM
I think it would be really dumb of them to sell off the parks. The parks turn a nice profit. The division pretty much runs itself and they provide a lot of free advertising and good will for AB. I think it would be very short sighted for InBEv to sell them off. That and there would seem to not be alot of companies who could buy them right now.
Tuesday, July 15, 2008 11:08 PM
I prefer Killian's Williamsburg..... :)