June 13, 2008 at 11:00 am by Tom Lydon
Could the sale of an American icon benefit a few exchange traded funds (ETFs)?
Belgium company InBev recently made an unsolicited bid for Anheuser-Busch (BUD), and it has people torn.
While shareholders might find themselves unable to resist the offering for $65 a share, politicians are placing a higher premium on American jobs, reports Aaron Task for Tech Ticker.
And some just plain wonder about the idea of a distinctly American brand heading overseas (although, let’s be honest. It’s not really very good beer, is it?). What’s next…apple pie?
Anheuser-Bush is 3.2% of the FocusShares ISE SINdex (PUF), while InBev is 7.8% of the iShares MSCI Belgium Index (EWK). EWK is down 8.6% year-to-date; PUF is down 14.5% year-to-date. Anheuser-Busch shares shot up in trading yesterday.
Tags | Belgium, Europe, EWK, Leisure & Entertainment, Retail & Consumer
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