On Friday, the board of Anheuser-Busch Cos. Inc. (NYSE: BUD) met and discussed the $46.3 billion unsolicited bid from rival InBev NV. However, there was nothing announced to its eager shareholders.

But, hey, why speed things up? Might as well keep InBev guessing, right?

And, there's much for the rumor mill to chomp on. For example, Carlos Fernandez said he has resigned from Anheuser's board. He is the CEO of Grupo Modelo, which is half-owned by Anheuser.

One possibility is that Anheuser will buy the rest of Grupo, making it tougher for InBev to pull off its buyout. So, does the resignation mean that Anheuser and Grupo are talking about such an arrangement?

It's really tough to tell. Perhaps Grupo is actually talking to InBev? After all, it looks like Grupo wants to remain independent.

Yet, all this stuff seems more of a sideshow. The fact remains that Anheuser can't ignore InBev and is under lots of pressure to sell out (especially in light of its sluggish operating performance over the past few years).

Actually, Adolphus A. Busch IV sent a letter to Anheuser's board urging negotiation with InBev to get a deal done. He's the uncle of the CEO, August A. Busch IV.

Finally, there is another interesting dynamic: Warren Buffett. His company, Berkshire Hathaway (NYSE: BRK.A), owns 5% of Anheuser's shares. No doubt, it should be interesting to get his views on the matter.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.

After a quiet start to 2007, Anheuser-Busch's (NYSE: BUD) prospects have brightened considerably, according to CEO August A. Busch IV, speaking at the Lehman Brothers Consumer Conference. The company now expects to surpass its target EPS growth of 7-10% for the year. Contributing to the stronger than expected performance has been BUD's growing stable of import and boutique beers, especially those brought on-line through its investment in Mexico's Grupo Modelo. International sales have also pushed up the bottom line.

Also contributing to the 2.7% growth in revenue per barrel was a successful price increase. The soft market for its brews that it experienced in the first quarter has turned around, with sales to retailers up 2.4%. The CEO also touted the company's aggressive pursuit of the China market.

The growth is reflected in good news for investors. In July, BUD boosted its quarterly dividend by 11.9%, and intends $2.5 billion in share repurchases this year.

After a cool spring and early summer, the weather has been as hot as a firecracker in the Midwest, so I'm not surprised by the sales increase. Looking for a stock play to make money on global warming? Consider taking a position behind a tall, cold one.