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Obama opines on Anheuser-Busch sale

With Belgian-Brazilian InBev seeking to take over Anheuser-Busch (NYSE: BUD), it's hard to see why it would have political ramifications: if BUD's shareholders and board determine that it's in their best interests to sell, isn't that a corporate decision? And don't politicians have better things to opine on?

Apparently not. Democratic Senator and presidential candidate Barack Obama told Reuters that "I do think it would be a shame if Bud is foreign-owned. I think we should be able to find an American company that is interested in purchasing Anheuser Busch if in fact Anheuser Busch feels that it's necessary to sell."

I'm an Obama supporter, but I'm not sure what the point is in wading into this one. Public companies have a responsibility to shareholders to be agnostic when it comes to foreign takeovers -- if that produces value, that's what they should do. When Barack Obama uses the pronoun 'we' to describe the strategic direction of a public company, I start to get a little worried.

If indeed Bud can find an American company interested in acquiring it at a competitive price, that's what the company will do. This is an economic decision about how the company can best produce shareholder value, and politicians shouldn't be wasting time on it.

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Last updated: October 13, 2008: 11:59 PM

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