After weeks of resistance, St. Louis-based Anhueser-Busch Cos., the largest American brewer, on July 14 relented to a $52 billion buyout by InBev, a Belgian-Brazilian conglomerate. In the end, Anhueser-Busch forced InBev, the world’s largest brewer, to boost its offer to $70 a share from $65 a share. Anhueser-Busch stock had been trading in the $40 range when InBev first made its offer in June.
Because of InBev’s reputation for slashing costs following its acquisitions of other brewers, many Missouri officials are concerned about the eventual loss of high-paying jobs at the company’s flagship St. Louis brewery and corporate headquarters. The sale also deals a heavy psychological blow to St. Louis, which has considered its status as the hometown of Anhueser-Busch as a source of great community pride.
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