Well it's official, Inbev has bought AB. As a girl raised in St. Louis and was taught that there is no beer other than Ab products, I'm really sad about this deal. Now we are in for more waiting to see if Sean's job will be spared. We are hoping to make it at least until the end of the year so we have health insurance to cover the birth of this baby. There is no way we can afford a delivery out of pocket, so we're hoping for the best at this point. I am stressed beyond belief about all of this, and I think Sean is too. But Sean doesn't seem to want to talk about it at all. I'm not sure if he thinks it will make me more upset knowing he is worried, or if it's just one of those weird "I'm a guy and we don't talk about our feelings," kind of things. Anyway, I hate being such a downer, but this really is a sad day for me. I keep telling myself we'll be ok even though I don't know how things are going to end up. I have to tell myself that or I'll go nuts!
Ps. I go to the doctor tonight, so hopefully my blood pressure won't be frighteningly high.
Here is the latest story from our local nbc news station KSDK
Anheuser-Busch and InBev announced the merger together during a Monday morning web conference with stock analysts and large stockholders.
InBev CEO Carlos Brito and Anheuser Busch President and CEO August Busch IV were both on the call.
"We went thorugh some difficult times together and our employees did as well?but in the end, this is a friendly transaction?and we are going to work very hard for our new shareholders," said Busch IV
The $52 billion merger won't happen until at least the end of 2008. The deal is $70 a share and comes just a week after A-B sued InBev saying the firm was launching an illegal scheme.
Brito said the combined company, of which A-B will be a subsidiary, will work on saving money, as much as $500 billion a year over three years.
"We'll deliver annual cost synergies of at least $1.5 billion phasing on the next thre years buidlling on A-B Blue Ocean Plan," said Brito. "This does not include significant revenue from combining our businesses."
Brito said the new company will retail the Clydesdales as a marketing tool, and he doesn't see any changes at Grant's Farm, which is owned by a Busch family trust.
Employee buyouts have already begun at A-B, under the Blue Ocean Program. People who are over 55-years-old are being offered early retirement. Those letters went out 10 days ago.
August Busch IV will keep his job. He will serve on the new company Anheuser Busch InBev's board as a director. But, he will no longer have a management role.
Brito said all 12 U.S. beer factories will stay open.