Analysis and Valuation
Courage is not the absence of fear. It is doing the thing you fear the most.
— Rick Warren
For many Americans, Budweiser is synonymous with American beer, and American beer is synonymous with Anheuser-Busch. Ownership of the American icon changed hands on July 14, 2008, when beer giant Anheuser-Busch agreed to be acquired by Belgian brewer InBev for $52 billion in an all-cash deal. The combined firms would have annual revenue of about $36 billion and control about 25% of the global beer market and 40% of the U.S. market. The purchase is the largest in a wave of consolidations in the global beer industry, reflecting ...