AB InBev shares should rally on revised agreement, says Jefferies Jefferies expects AB InBev (BUD) shares to rally after the company announced a revised agreement with Constellation Brands (STZ) for the sale of its Piedras Negras brewery and granting of the perpetual rights to Corona and other brands in the U.S. for $2.9B. Jefferies thinks the new deal addresses the Department of Justice's concerns surrounding AB InBev's takeover of Modelo deal and the firm now expects the deal to go through. Jefferies has a Buy rating on AB InBev shares.
AB InBev announces $1B share buyback program The board has approved a share buyback program for an amount of $1B, which will be conducted during the course of this year. The company's current intention is to use the shares acquired to fulfill its various share delivery commitments under the stock ownership plan. The program will be executed under the powers granted at the General Meeting of Shareholders on April 30.
JPMorgan to hold a conference Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link