SABMiller stays mum on Modelo
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Mum's the word from SABMiller plc CEO Graham Mackay about whether his company has approached Grupo Modelo SAB de CV, according to a Reuters report. The rumored discussions have included the possibility of SABMiller acquiring part or all of the Mexican brewer best known for Corona, if InBev succeeds in its proposed $46.3 billion takeover of Anheuser-Busch Cos.
Anheuser-Busch, which owns 50.2% of Modelo, has also reportedly held talks with Grupo Modelo about an acquisition in an attempt to thwart InBev's offer. The thinking is that a combined Anheuser-Busch and Grupo Modelo would be too costly for InBev. Shortly after the rumors emerged, Modelo CEO Carlos Fernandez resigned from Anheuser-Busch's board of directors.
InBev is trying to oust Anheuser-Busch's board of directors, prompting Anheuser-Busch to reject InBev's takeover bid last week and to announce a restructuring. - Maria Woehr
Anheuser-Busch announces restructuring to up the ante?
See Corporate Dealmaker: Would Budweiser make a good global flagship brand?
See Dealscape: Anheuser-Busch rejection letter to InBev
See TheDeal.com: Anheuser-Busch rejects InBev
See TheDeal.com: Bud for InBev at $65 per share?
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