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Friday, June 22, 2007

Miller to Buy Coors?

.....Just because I used to work for Miller and I love beer. I think this would be a good move for both companies so that they can better battle other industry rivals InBev and Anheuser-Busch. The beer industry has been moving towards consolidation and this merge could prove profitable for both companies.

SABMiller PLC, owner of Miller Brewing, has signaled it may be interested in a tie-up with Coors Brewing, according to a news service report.

Thomson Financial reported from London that Norman Adami, president of SABMiller's Americas division, told an investor presentation this week the companies see cost savings in a potential tie-up with Coors.

Golden-based Coors merged with Canada's Molson in 2005 to become Molson Coors.

Adami said SABMiller would do 'everything reasonable' to improve its position in the US, including potential acquisitions, but declined to comment on the likelihood of a deal for Coors, according to Thomson Financial.

"Should they make themselves available ... clearly we would look at everything out there," the news service quoted him as saying.

Active trading in Molson Coors options also has fueled speculation that the company may be the target of a takeover. The Web site noted heavy trading in June options to buy Molson Coors share, a move the site linked to "takeover chatter."

The company recently reveal a new severance plan for executives in case of a takeover, which may have helped fuel the speculation.

A Coors spokesman wasn’t immediately available.

1 comment:

Anonymous said...

This is fifty percent entertaining. But then once more I am extremely high right now