Warren Buffett & Jimmy Buffett

June 20, 2008 by Latest
Things are not looking good.  According to The Business Journal, Warren Buffett, the world's richest man and chairman of Berkshire Hathaway Inc., plans to tell Anheuser-Busch Cos. chief August Busch IV that he supports Belgian brewer InBev's proposed $46.3 billion takeover offer of the Budweiser brewer.
Berkshire Hathaway owns more than 35.3 million shares, or 4.9 percent, of Anheuser-Busch stock, and is believed to be the brewer's second-largest shareholder behind the 5.7 percent held by Barclays Global Investors NA of San Francisco. Berkshire Hathaway's stake in Anheuser-Busch is worth nearly $2.3 billion at the current offer price of $65 per share.
“Mr. Buffett, who holds a 5 percent stake in Anheuser-Busch Inc., has a notable reputation for assisting in matters where family ownership is at stake,” said Adolphus Busch IV, an uncle to August Busch IV and a company shareholder, in a statement. “His participation in the recent merger of Wrigley and Mars Inc. is evidence of his integrity. Should Mr. Buffett see this merger as a positive action for all shareholders involved, the likelihood of a deal will increase enormously.”
Research firm Gimme Credit issued a note Monday morning that said, “If Mr. Buffett makes any public statement in support of InBev's bid, it's game over for the Busch family's takeover defense efforts.”
 
But what does Mr. Cheeseburger in Paradise think?  The OTHER BUFFETT, Jimmy Buffett's LandShark Lager is brewed by the makers of Budweiser. Where are all the quotes in the papers from him!? What will HE tell the Busch family!?  Maybe he can promote some changes in attitudes… if not, put LandShark on your list.

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