The King has abdicated
The iconic American brewer Anheuser-Busch agreed to sell itself to the Belgian company InBev for $52 billion, the FT says on page one and the Journal on B1. The new global beer behemoth will have 300 brands. The Journal:
The agreement is evidence that even though the global mergers-and-acquisitions market has slowed as a result of the credit crisis, the appetite of many corporations for takeovers is still strong. It also shows that banks, despite the losses they have suffered on risky debt they took on in recent years, are willing to open their checkbooks to help fund combinations of strong companies.