Busch Parks Up for Sale
It looks as though no matter who wins in the InBev - Anheuser-Busch (AB) Takeover Battle, The Busch Parks are on the chopping block.
The AB board of directors unanimously agreed to reject Belgian based brewer InBev's offer of 46.3 Billion dollars. However, siting a decision to improve company performance in a presentation to company shareholders this morning; AB announces that the sale of the parks among other options (such as layoffs) would save AB billions.
So Theme park fans, sound off. What can we do to save the purpose of these parks? Is this the right decision for AB? Who would take over the parks? And, would the mission of animal conservation remain?
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This is an unsubstantiated rumor, specifically denied by the Chairman of the Board.
OK -- I will freely admit I did not see this one coming.
According to the Reuters report the parks are NOT for sale as part of AB's plan.
OK - I listened to the entire investor call this morning, and the CFO specifically said selling the parks is NOT in the cost-savings plan. In fact, they expect single digit profit growth from the entertainment division, not an incentive to sell it off. "A sale, after tax, is not of benefit to our shareholders...[the entertainment division] really adds a lot of value...[revenue] is growing 9-plus percent..." per August Busch. This tracks with the reported Reuters story. So much for this rumor... Robert, perhaps you should require posters to cite sources before posting stuff like this...
The facts collected in the story I wrote. Were based on various news sources reporting that the parks were on the table for sale.
I've been following this story, and I've heard nothing of the parks going up for sale. I do know that Inbev's initial offer was rejected, and that Inbev will probably go hostile. It seems to me though that the company's approach toward the raid is to grow the business and trim the fat rather than slashing costs. I don't think that A-B is foolish enough to cut and run.
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