filed in food and beverage, internet services, retail on Jan.30, 2009
In November of 2004 I wrote a piece entitled “Sleepless in Seattle” which postulated that shares of Starbucks (SBUX) were trading at such a high valuation (forward P/E of 48) that even if the company grew handsomely over the following few years, the stock’s performance was likely to be unimpressive. I projected an aggressive three-year [...]
filed in food and beverage on Dec.30, 2008
As you may have already read in Business Week’s 2009 Investment Outlook issue (dated 12/29-1/5), I highlighted the recently formed Anheuser-Busch InBev (AHBIF) as a potentially attractive bargain pick. Despite various other mergers failing to get done in the current credit environment, Belgium’s InBev paid $52 billion in cash to acquire Anheuser-Busch. Fearing that borrowing [...]
filed in food and beverage, investment strategies on Dec.20, 2008
The annual Business Week Investment Outlook issue (dated 12/29-1/5) is out and I was asked to contribute a bargain investment idea from the currently depressed market. My pick (on page 58) was Anheuser-Busch InBev. I am on vacation through 12/27 but I will write about this newly created beer giant in more detail when I [...]
filed in food and beverage on Jul.11, 2008
News this week that beer giant Anheuser-Busch (BUD) was suing InBev, claiming that its hostile takeover attempt was illegal, looked surprising desperate to me this early in the game. A report out of the New York Times insists that A-B is now in friendly negotiations with InBev about a merger. What this tells me is [...]
filed in food and beverage on Jun.27, 2008
After seeing that Yahoo (YHOO) was able to reject a hostile bid from Microsoft (MSFT), claiming the offer was “inadequate” despite the fact that it clearly was quite adequate, Anheuser-Busch (BUD) has apparently decided to use the same approach in its battle with InBev. BUD officially rejected the deal yesterday, and in a conference call [...]
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