There are more twists and turns to the InBev / Anheuser Bush takeover saga than an episode of "Lost."
On Tuesday a full-page ad from the Belgian brewer appeared in the St. Louis Post-Dispatch suggesting that a takeover would make for a stronger, more competitive global company. It says Budweiser would be expanded globally and St. Louis would serve as North American headquarters.
The ad also says that InBev would keep all 12 U.S. breweries open and that the company will have strong commitments to the communities where Anheuser-Busch operates.
InBev announced its $65-per-share bid for Anheuser-Busch last month. The Anheuser-Busch board rejected the bid as inadequate and later outlined plans to cut $1 billion in costs and improve earnings in a move to convince investors that InBev's overture was too low.
I think the BUD plan is way too little, way too late, muses Karen Finerman. Management wants to keep control and not sell and I think that’s a terrible mistake.
Anheuser-Busch is also suing InBev alleging "an illegal plan and scheme by InBev, through a course of deceptive conduct, to acquire control of Anheuser-Busch at a bargain price." Meanwhile, In-Bev is attempting to replace BUD's board.
Can't wait for the next chapter... can you?
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Trader disclosure: On July 8, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WMT), (MSFT), (EMC), (ATVI), (DIS); Pete Najarian Owns (AAPL), (CHK), (TSO), (XLF); Pete Najarian Owns (ANR) And (ANR) Puts; Pete Najarian Owns (FNM) And (FNM) Puts; Pete Najarian Owns (RIMM) Calls, (SLB) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (MO), (MSFT), (PM), (RAI), (SUN), (TSO), (VLO), (GE), (MRK), (PPH), (JNJ), (PFE); Finerman's Firm is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Owns (TGT) Calls; Finerman's Firm Is Long SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (XME) And Owns (XME) Puts; Terranoa Owns (YHOO), (IYT), (LUV), (CME), (FCX), (BNI), (GOOG), (XLF), (INTC), (SU); Terranova Is Long Dollar Index Futures; Terranova is chief alternatives strategist at Phoenix Investment Partners; Phoenix Investment Partners Owns (POT), (ABT), (WM), (GOOG), (CME), (FCX), (AMZN), (MER), (FRE, (FNM), (JPM), (IGE), (DBC), (DBV), (RWX);Phoenix Investment Partnerse Is Long And Short (AA)
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