InBev warns Bud away from Mexico - Business - Evening Standard
       

InBev warns Bud away from Mexico

Belgian brewing giant InBev today warned its $46 billion (£23.6 billion) US bid target Anheuser-Busch not to pursue a takeover of Corona beer maker Modelo of Mexico.

The Stella Artois maker told the Budweiser giant it should fully explore the InBev offer before attempting any "spoiler" deal. Anheuser-Busch has held exploratory talks with Modelo over a deal as part of its strategy to deter InBev.

InBev chief executive Carlos Brito suggested that doing a deal with Modelo could affect the value of its $65-ashare offer. InBev last week launched an unsolicited bid for Anheuser-Busch. A deal would create the world's largest brewer. Busch said its board would evaluate the proposal carefully. Brito said he was committed to a "friendly combination", and he had read press reports that Anheuser may have approached Modelo.

He added: "We would expect that prior to proceeding with any alternative transaction, especially if your shareholders will not be given the opportunity to vote on it, you would first fully explore our offer and the potential adverse consequences any such transaction could have on the ability of your shareholders to receive our premium offer."

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity