Opponents want to know: How can America let Anheuser-Busch be sold to Belgian company InBev? But they don't have much of a leg to stand onBudweiser: The finest beer from Oostende to Genk. If that doesn't sound right to you, you're not alone. InBev's $46 billion offer for Anheuser-Busch (BUD) made some Americans wince. How could the quintessential U.S. beer company be owned by a Belgian outfit?
Since the announcement on June 11, opponents of the proposed buyout have launched Web sites and petitions to scuttle the sale. The site SaveAB.com calls the company "an American original," in league with baseball and apple pie. According to the Associated Press, the site was founded by the former chief of staff to Missouri Governor Matt Blunt. Blunt directed the state's Economic Development Dept. to find a way to keep Anheuser-Busch in American hands. And Senator Kit Bond (R-Mo.) urged U.S. Attorney General Michael Mukasey to scrutinize the deal closely for antitrust concerns because it would put "a significant market share of the U.S. in the hands of fewer competitors."
Blunt is obviously concerned about jobs in his home state, as are many of the people opposed to the sale. (Although apparently not many investors: Anheuser-Busch's stock price rose by $3.05, or 5%, to 61.40 on the news. The offer works out to $65 per share.) But the campaign against InBev (INTB.BR) has taken on a distinct nationalistic tone. Anheuser-Busch has successfully marketed Budweiser as the consummate American beer. InBev attempted to address concerns about foreign ownership in its offer letter to Anheuser-Busch, calling the Budweiser brand "iconic" and promising to position it as the company's "global flagship brand." The company has pledged not to close any of Anheuser-Busch's 12 breweries.
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