07/08/2008 05:12 am ET | Updated May 25, 2011

Anheuser To Cut $1 Billion To Prove Competence

Anheuser-Busch (BUD), having formally rejected the $65/share InBev takeover offer, now must pretend it's serious about trying to create shareholder value (at least for a while). Thus, the company has announced a new restructuring plan:

* $1 billion in cost-cutting
* massive firings
* selling off assets like theme parks

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