Anheuser-Busch Passes on Craft Brew Alliance: What Now?
Anheuser-Busch InBev (NYSE: BUD) said thanks, but no thanks, and has opted not to exercise its option to buy the remaining shares of Craft Brew Alliance (NASDAQ: BREW) that it doesn't already own.
Although there were a number of good reasons the megabrewer could have (and arguably should have) bought the craft brewer, Anheuser-Busch instead chose to pay it $20 million as required by a commercial agreement the two signed in 2016. Craft Brew Alliance said it will hold a conference call on Sept. 5 to discuss what it will do from here.
Shares of the craft brewer cratered 15% on the news, but investors who like consumer goods stocks may want to take a closer look now that its stock is so cheap. There's a good case to be made that it is an attractive buy now.
Source Fool.com
