Belgian brewer InBev announced earlier that it will buy Anheuser-Busch for $52 billion to create the world's largest brewer.
$70 a share was too good of an offer to keep CEO August A. Busch IV from selling an American icon to a foreign entity. The acquisition means control over America's largest brewer moves overseas as we watch the Busch family turn from patriots to traitors.
InBev has said it plans to use St. Louis as its North American headquarters, and that it will keep open all 12 of Anheuser-Busch's North American breweries. Marketwatch reports that the new company will be called Anheuser-Busch InBev.
The deal must still be approved by shareholders and European and U.S. antitrust regulators. This is certainly a good thing as a number of politicians have been verbal about the anti-American feelings that this deal has.
Major news outlets such as Forbes have been reporting that job cuts would be eminent. For those of you that were worried if August would land on his rich feet after all of this, fret not, as his job is safe on the board of the new foreign company. Can you say turncoat?
We will be the first to admit, we were suckered by August's “American family values” TV commercials and public rebuke of the takeover offer, so much so that we retracted our early boycott efforts against Anheuser-Busch. But with these latest events, just about the only thing we can think to do today is stop drinking Budweiser. We advise you to do the same.