Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American Icon

( 33 )

Overview

How the King of Beers collapsed without a fight and what it means for America's place in the post-Recession world

How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands with scarcely a whimper of opposition? Chalk it up to perfect timing—and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. In Dethroning the King, Julie MacIntosh, the award-winning ...

See more details below
Paperback
$15.50
BN.com price
(Save 18%)$18.95 List Price

Pick Up In Store

Reserve and pick up in 60 minutes at your local store

Other sellers (Paperback)
  • All (20) from $7.99   
  • New (11) from $11.21   
  • Used (9) from $7.99   

Overview

How the King of Beers collapsed without a fight and what it means for America's place in the post-Recession world

How did InBev, a Belgian company controlled by Brazilians, take over one of America's most beloved brands with scarcely a whimper of opposition? Chalk it up to perfect timing—and some unexpected help from powerful members of the Busch dynasty, the very family that had run the company for more than a century. In Dethroning the King, Julie MacIntosh, the award-winning financial journalist who led coverage of the takeover for the Financial Times, details how the drama that unfolded at Anheuser-Busch in 2008 went largely unreported as the world tumbled into a global economic crisis second only to the Great Depression. Today, as the dust settles, questions are being asked about how the "King of Beers" was so easily captured by a foreign corporation, and whether the company's fall mirrors America's dwindling financial and political dominance as a nation.

  • Discusses how the takeover of Anheuser-Busch will be seen as a defining moment in U.S. business history
  • Reveals the critical missteps taken by the Busch family and the Anheuser-Busch board
  • Argues that Anheuser-Busch had a chance to save itself from InBev's clutches, but infighting and dysfunctionality behind the scenes forced it to capitulate

From America's heartland to the European continent to Brazil, Dethroning the King is the ultimate corporate caper and a fascinating case study that's both wide reaching and profound.

Read More Show Less

Editorial Reviews

From the Publisher
"A Foolish Book Recommendation for July." (The Motley Fool)

"How the Busch clan lost control of an iconic American beer company. If ever an American company represented the land of milk and honey for corporate executives it was Anheuser-Busch . . . For decades a palace of well-paid vice presidents in cushy offices presided over the manufacture of Budweiser, America's beer, in that most American of cities, St. Louis. 'Few companies on earth were more evocative of America, with all of its history and iconography, than Anheuser-Busch,' writes veteran Financial Times journalist Julie MacIntosh in her strenuously reported book, "Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American Icon." As the title suggests, the reign of the King of Beers ended in the summer of 2008, when the company merged with the Brazil-based brewing giant InBev, an outfit about as culturally different from Anheuser-Busch as one could imagine. At $70 a share, or $52 billion, it was the largest all-cash acquisition in history and even more noteworthy because it occurred during the gathering storm of a global financial collapse. . . When growth-hungry InBev arrives on the scene, a company so lean and cost-conscious that they're called the Walmart of brewers, all hell breaks loose at the complacent Anheuser-Busch headquarters. The Brazilians make a pitch of $43 billion in what's known on Wall Street as a "bear hug"—an offer so generous that the recipient can't refuse. But A-B's board does refuse, triggering weeks of moves and counter-moves and endless end-gaming by the two companies. Ms. MacIntosh relates every gambit in crisp, scene-by-scene detail." (The Wall Street Journal)

"Ms. MacIntosh . . . earns extra credit for staying on the Anheuser-InBev case despite considerable macrocosmic distractions. . . The author's persistence pays off in her account of the Busch family's searing internecine strife. . . 'Dethroning the King' makes for a fine yarn with a cautionary message about American business in the age of globalization. InBev began laying off workers less than a month after the deal formally closed, Ms. MacIntosh reports. Maybe the next time a foreign entity tries to acquire a major American family company, the public will take notice before it becomes a fait accompli." (The New York Times)

“There’s a lesson for all in book on brewing. . . a great read.” (Morning Advertiser)

Dethroning the King, . . . is the compelling play-by-play of InBev's takeover of Anheuser-Busch. Give MacIntosh a Stella Artois for her excellent reporting.” (Stltoday.com)

"Dethroning the King is a brutally detailed look at the hostile takeover of Anheuser-Busch, the legendary icon that at one time was the epitome of American business success. It is a story that may well go down in American business history as one of the defining moments of this era. [An] insightful and brilliantly written work. As American business continues to dramatically change, this compelling book should be on every businessperson's reading list." (Business Lexington)

A Library Journal Best Business Book 2010

“In a narrative that reads as fast as any fiction thriller, Financial Times journalist MacIntosh details the 2008 takeover of the iconic Anheuser-Busch brewing company by Belgian corporation InBev, focusing particularly on the company's importance to the St. Louis region; its management, or lack thereof, by the Busch family (particularly the August Busches III and IV); and the broader unsettled economic climate of 2008.”

The Wall Street Journal
”How the Busch clan lost control of an iconic American beer company. If ever an American company represented the land of milk and honey for corporate executives it was Anheuser-Busch . . . For decades a palace of well-paid vice presidents in cushy offices presided over the manufacture of Budweiser, America's beer, in that most American of cities, St. Louis. ‘Few companies on earth were more evocative of America, with all of its history and iconography, than Anheuser-Busch,’ writes veteran Financial Times journalist Julie MacIntosh in her strenuously reported book, "Dethroning the King: The Hostile Takeover of Anheuser-Busch, an American Icon." As the title suggests, the reign of the King of Beers ended in the summer of 2008, when the company merged with the Brazil-based brewing giant InBev, an outfit about as culturally different from Anheuser-Busch as one could imagine. At $70 a share, or $52 billion, it was the largest all-cash acquisition in history and even more noteworthy because it occurred during the gathering storm of a global financial collapse. . . When growth-hungry InBev arrives on the scene, a company so lean and cost-conscious that they're called the Walmart of brewers, all hell breaks loose at the complacent Anheuser-Busch headquarters. The Brazilians make a pitch of $43 billion in what's known on Wall Street as a "bear hug"—an offer so generous that the recipient can't refuse. But A-B's board does refuse, triggering weeks of moves and counter-moves and endless end-gaming by the two companies. Ms. MacIntosh relates every gambit in crisp, scene-by-scene detail.

—The Wall Street Journal

The New York Times
“Ms. MacIntosh . . . earns extra credit for staying on the Anheuser-InBev case despite considerable macrocosmic distractions. . . The author’s persistence pays off in her account of the Busch family’s searing internecine strife. . . “Dethroning the King” makes for a fine yarn with a cautionary message about American business in the age of globalization. InBev began laying off workers less than a month after the deal formally closed, Ms. MacIntosh reports. Maybe the next time a foreign entity tries to acquire a major American family company, the public will take notice before it becomes a fait accompli.

— The New York Times

Read More Show Less

Product Details

  • ISBN-13: 9781118157022
  • Publisher: Wiley
  • Publication date: 11/8/2011
  • Edition number: 1
  • Pages: 416
  • Sales rank: 283,298
  • Product dimensions: 6.00 (w) x 8.90 (h) x 1.20 (d)

Meet the Author

Julie MacIntosh, an award-winning financial journalist, led the Financial Times's coverage of the takeover of Anheuser-Busch as its U.S. Mergers and Acquisitions Correspondent. She also covered the near-collapse of the global banking system while on the mergers beat and, before that, wrote for the newspaper's influential "Lex" column. Prior to joining the Financial Times, she spent six years as a reporter and correspondent for Reuters and, in 2003, was named one of NewsBios's "Top 30 Business Journalists Under 30." She regularly appears on CNBC and MSNBC.

Read More Show Less

Table of Contents

Cast of Characters xiii

Author's Note xvii

Prologue 1

Chapter 1: The Game Is Afoot 5

Chapter 2: Crazy and Lazy at Loggerheads 23

Chapter 3: The Colossus 37

Chapter 4: Selling the American Dream 57

Chapter 5: The Fourth Abides 77

Chapter 6: The Hunter's Frozen Trigger Finger 111

Chapter 7: A Babe in the Woods 127

Chapter 8: The Old Gobi Desert Trick 143

Chapter 9: Mr. Brito Goes to Washington 161

Chapter 10: Angry Bedfellows 181

Chapter 11: The Board: August, August, and Augusta 203

Chapter 12: The Montagues and the Busches 241

Chapter 13: A Seller from "Hello" 257

Chapter 14: Put Up or Shut Up 275

Chapter 15: A Long Way from St. Louis 295

Chapter 16: A Toast on Both Sides 311

Chapter 17: Cash Out or Hunker Down 323

Epilogue 341

Notes 355

Acknowledgments 369

About the Author 371

Index 373

Read More Show Less

Customer Reviews

Average Rating 3.5
( 33 )
Rating Distribution

5 Star

(11)

4 Star

(8)

3 Star

(3)

2 Star

(6)

1 Star

(5)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously
See All Sort by: Showing 1 – 20 of 34 Customer Reviews
  • Posted February 8, 2014

    more from this reviewer

    Anheuser Busch's downfall is very well documented in this book.

    Anheuser Busch's downfall is very well documented in this book. There are no clear villains and each person involved is shown in the most objective light possible. A read so compelling, one didn't want to Google the outcome before finishing the book.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted June 1, 2012

    A great read.

    A cautionary tale about how decades of iron-fisted, extremely insular leadership combined with the American financial crisis created a perfect storm resulting in the 2008 takeover of Anheuser-Busch (at $52 billion, the largest all cash takeover in corporate history). All the more interesting due to the involvement of major Wall Street firms such as Goldman Sachs and Morgan Stanley and knowing what still lay ahead as the financial crisis went global.

    Was this review helpful? Yes  No   Report this review
  • Anonymous

    Posted August 17, 2011

    No text was provided for this review.

  • Anonymous

    Posted December 18, 2010

    No text was provided for this review.

  • Anonymous

    Posted April 27, 2011

    No text was provided for this review.

  • Anonymous

    Posted December 31, 2010

    No text was provided for this review.

  • Anonymous

    Posted June 7, 2011

    No text was provided for this review.

  • Anonymous

    Posted March 29, 2011

    No text was provided for this review.

  • Anonymous

    Posted September 26, 2011

    No text was provided for this review.

  • Anonymous

    Posted August 20, 2012

    No text was provided for this review.

  • Anonymous

    Posted May 1, 2011

    No text was provided for this review.

  • Anonymous

    Posted April 4, 2011

    No text was provided for this review.

  • Anonymous

    Posted February 3, 2011

    No text was provided for this review.

  • Anonymous

    Posted October 16, 2011

    No text was provided for this review.

  • Anonymous

    Posted March 22, 2012

    No text was provided for this review.

  • Anonymous

    Posted July 13, 2011

    No text was provided for this review.

  • Anonymous

    Posted January 20, 2011

    No text was provided for this review.

  • Anonymous

    Posted January 31, 2011

    No text was provided for this review.

  • Anonymous

    Posted May 12, 2011

    No text was provided for this review.

  • Anonymous

    Posted January 10, 2011

    No text was provided for this review.

See All Sort by: Showing 1 – 20 of 34 Customer Reviews

If you find inappropriate content, please report it to Barnes & Noble
Why is this product inappropriate?
Comments (optional)