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Wall Street Breakfast: Must-Know News

Posted on June 26, 2008

Bud prepares for brawl. Sources say Anheuser-Busch (BUD) is preparing itself to fight InBev's unsolicited $46.5B bid. Management will argue the bid undervalues the company, and will present shareholders with its strategic outlook, including selling some non-core assets such as its theme parks, and added cost savings of $500M over the next four years. InBev is likely to take its offer directly to shareholders. Fed focused on inflation. The Fed left its target rate unchanged at 2%, as expected. It said economic activity continues to expand, but labor is weaker and financial markets remain und...

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