Anheuser-Busch is Suing InBev Over “Misleading” Statements

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Over the past month or so, In-Bev has been trying to buy out Anheuser-Busch, and A-B has been rejecting offers. Now A-B is suing InBev for some misleading statements about future plans for A-B regarding its shareholders.

From BrewBlog.com:

Beer Marketer’s Insights Express is reporting that Anheuser-Busch is suing InBev over public statements that allegedly contain “numerous false and misleading statements” about its bid and future plans for A-B.

The suit claims InBev’s statements deprive A-B shareholders of the information they need to make a decision on the proposed bid, BMI reports. A-B is seeking an injunction against any solicitation by InBev to oust A-B’s board.

The suit calls upon InBev to disclose all conditions on the $40 billion in bank financing it has lined up in connection with the deal, BMI reports. Short of disclosing these, InBev’s claim it has “fully committed” financing is misleading, A-B claims.

Again invoking InBev’s Cuban operation, A-B says that group can’t be managed from the U.S. under existing laws — so claims that St. Louis would be InBev’s North American headquarters are “false and misleading,” BMI reports.

Finally, the suit argues that InBev CEO Carlos Brito’s claims that InBev would maintain support for the brands is misleading given InBev’s reputation for cost-cutting and its need to generate savings should the deal go through, BMI reports.

The suit was filed in a U.S. district court in St. Louis.

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