Newspaper wrap-up: InBev says its bid for Anheuser Busch will turn hostile
Posted Jun 27th 2008 8:13AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Pfizer (PFE), Anheuser-Busch Cos (BUD), Merrill Lynch (MER), Procter and Gamble (PG)
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MAJOR PAPERS:
- The Wall Street Journal reported that is is not yet certain whether Merrill Lynch & Co Inc (NYSE: MER) will need to raise money. If it does, selling common stock could be expensive due to a 12-month protection the bank offered the investors that bought $12B in common and preferred shares earlier this year and selling assets like its interest in Bloomberg may present a different problem.
- The Wall Street Journal also reported that investigators from the European Union are probing deeper into the pharmaceutical industry in an effort to determine whether drug companies have used unfair tactics to increase prices and block competition. Investigators have reportedly ask for views on direct-to-pharmacy distribution channels, which Pfizer Inc (NYSE: PFE) and AstraZeneca Plc (NYSE: AZN) recently established in Britain.
- After Anheuser-Busch Companies Inc (NYSE: BUD) said it would reject InBev's $46B bid as "financially inadequate," InBev said it would launch a hostile bid. According to court documents, the Financial Times reported that InBev is preparing to launch a proxy battle seeking the removal of Anheuser's entire board.
- The Financial Times also reported that soaring energy prices are forcing U.S. consumer goods company The Procter & Gamble Company (NYSE: PG) to rethink how it distributes products. The company may consider shifting manufacturing sites closer to consumers in order to lower its transport bill.
Tags: Anheuser, anheuser-busch, AstraZeneca, AZN, BUD, EU probe, EuProbe, European Union, EuropeanUnion, hostile takeover, HostileTakeover, InBev, MER, Merill Lynch, MerillLynch, PFE, Pfizer, PG, Procter Gamble, ProcterGamble
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Reader Comments (Page 1 of 1)
7-09-2008 @ 3:20PM
ba said...
I think Vanda is waiting for final approval on the first one.(Fiapta) This should move the stock.
Vanda Pharmaceuticals is a development-stage company which has several drugs for disorders of the central nervous system undergoing trials. The company's leading drug candidate is Fiapta (iloperidone), a treatment for schizophrenia and bipolar disorder. Other drug candidates are treatments for sleep disorders, including insomnia and sleep apnea, and depression. Vanda has licensed development and commercialization rights for the three compounds it has in clinical development from Bristol-Myers Squibb and Novartis. Dr.Mihael H. Polymeropoulos, M.D.
CEO 9605 Medical Center Dr., Ste. 300
http://www.vandapharma.com