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Rivals seek to oust U.S. icons' boards

If you can't get what you want, just fire the board. That's the strategy being used in a hostile fight for St. Louis brewer (and Busch Gardens owner) Anheuser-Busch and a famous financier's quest for shareholder value at Internet giant Yahoo, as a software behemoth waits in the wings:

InBev vs. Anheuser-Busch

The battle for America's iconic beer has turned nastier, as InBev says it will attempt to remove Anheuser-Busch's board. A-B responded by calling the move an attempt to use a "hand-picked board" to buy the nation's biggest brewery at a discount. Belgium-based InBev filed paperwork with U.S. regulators Monday, asking Anheuser-Busch's shareholders to submit a motion to the company that would fire its board members and replace them with an alternate slate. The brewer proposed an alternate board, including Adolphus Busch IV, the uncle of Anheuser-Busch CEO August Busch IV, that would give shareholders "a direct voice" in the takeover, InBev said.
Microsoft vs. Yahoo

Microsoft Corp. has thrown its weight behind investor Carl Icahn's effort to dump Yahoo Inc.'s board, saying a successful shareholder rebellion would encourage the softwaremaker to renew its bid to buy Yahoo's Internet search engine or possibly the entire company. The unexpected endorsement gives Icahn a carrot to dangle before Yahoo shareholders as he wages an acrimonious campaign to replace Yahoo's nine directors at the company's annual meeting Aug. 1. It marks the first time that Microsoft has publicly sided with Icahn since the billionaire investor launched his attempted coup nearly eight weeks ago.

Rivals seek to oust U.S. icons' boards 07/07/08 [Last modified: Monday, November 1, 2010 3:17pm]
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