Citi to close hedge fund & InBev wants to buy Anheuser-Busch
The Wall Street Journal has the two big stories of the day:
7 AM, THURSDAY — Just 11 months after Citigroup bought the Old Lane Partners hedge fund for more than $800 million, Citigroup has decided to close the fund.
InBev NV has made an unsolicited bid to buy Anheuser-Busche Cos for $46.4 billion. In my opinion, this may be a good deal for Anheuser shareholders; however, Squawk Box mentioned this morning that InBev would likely close all of Aneheuser’s U.S. plants, which doesn’t bode so well for the U.S. economy. Would this Bud still be for you if it was made by a Belgian-Brazilian giant?
With all the talk on the street comparing Lehman to Bear Stearns, just keep in mind that Lehman’s still has access to the fed window — not that I’m trying to paint a rosy picture of Lehman’s predicament.
Stocks on my watch list today revolve around Palm announcing plans to sell Centro through Verizon. Let’s see how this news affects these stocks.