23.08.2019 17:50:00

Why Shares of Craft Brew Alliance Are Crashing Today

Shares of Craft Brew Alliance (NASDAQ: BREW) traded down more than 16% on Friday after beverage giant Anheuser-Busch InBev (NYSE: BUD) decided against making a qualifying offer to buy out the smaller brewer. The decision came as a surprise to many investors, and leaves Craft Brew management with some difficult choices as it plots its future as an independent.As part of a 2016 cooperation agreement between the two brewers, Anheuser-Busch, owner of about one-third of Craft Brew shares, had until Friday to either offer to buy the remaining shares for $24.50 apiece (or about $475 million) or pay Craft Brew $20 million.Anheuser-Busch said that although "the long-standing and strong partnership we have with Craft Brew Alliance is extremely valuable," it would not make an offer. Under the terms of the original deal, Craft Brew can continue to use Anheuser-Busch's massive distribution network and brewing facilities, but investors were hoping for a buyout.Continue reading
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