On the heels of the announcement that MillerCoors is closing its Eden plant comes news that Anheuser Busch InBev NV has approached SABMiller with proposed takeover:
London-listed SABMiller said AB InBev “has informed SABMiller that it intends to make a proposal to acquire SABMiller.” It cautioned that no deal was certain. AB InBev soon followed with its own statement, saying it intends “to work with SABMiller’s board toward a recommended transaction.” No terms were disclosed.
AB InBev and SABMiller are the world’s two largest brewing companies, and a combination would trigger an intense antitrust review around the world.
Meanwhile, the N&R editorializes on the ‘bitter finish’ in Eden, managing—imagine this—to get in a shot at Sen. Phil Berger, expressing hope that Berger “will rethink the decision to slash unemployment benefits” since “his own constituents may need more help than a maximum of $350 a week for 16 weeks.”
N&R also notes Eden and Rockingham County “will lose significant tax revenues but still have to provide public services and operate schools.” Interesting then that Rockingham County Manager Lance Metzler said redistributed sales tax revenue to rural counties that was included in the long-delayed state budget deal would help lessen the blow of the plant closure.
Worth noting that the N&R editorialized strongly against the redistribution of sales tax revenue, calling it a “share-the-wealth scheme” devised by Republicans to pit rural against urban interests.
