CNBC’s David Faber just broke news that InBev is closer to making a formal bid for Anheuser-Busch Companies Inc. (NYSE: BUD). He said that this bid could come in the next couple of weeks and may likely be on an unsolicited basis. Over at Volume Spike (vsinvestor.com) we just noted in the last 60 minutes about a sudden increase in the call option activity in the near months expiration dates.
Shares had been down prior to the Faber report, but now shares are up 1.2% at $57.80 and have now traded more than average day’s trading volume.
We had noted the same sort of movement a couple weeks ago and that was also right ahead of some additional stories pointing to the possibility of a bid coming. The expected amounts for a bid at the current time have only been "discussed" as being in the $60 to $65 per share range.
Stay tuned. As this still has founding family descendants involved, it could get interesting. As a reminder, until InBev or others come out with formal terms that this is still not much of a step above "rumor" status because of how long this has been pending and discussed.
Jon C. Ogg
June 11, 2008
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