With the current deal in the works with Imbev buying out Anheuser-Busch, what happens to employees’ 401k accounts? I heard it is a CASH deal, so I’m wondering what happens with my stock in the company. Does Imbev send us a check and we start all over?
Also, what happens to any outstanding 401k loans? Do we have to repay immediately?
August 6th, 2008 at 9:35 am
Every situation is very different. My expectation is that you would either get a cash payout into your 401K account or your BUD shares would be replaced with InBev shares. In either case I don’t see why your 401K account would be closed. You borrow against equity of your 401K and I don’t think it makes any difference if you hold BUD, InBev shares or cash in the account thus I don’t think you would have to repay any outstanding loans immediately. That is just my 2 cents but if I were you I would check with my benefits administrator since he/she would be the person most familiar with your particular situation.
August 22nd, 2008 at 8:19 pm
Shares are beign turned into cash. It is important to note that the number of “units” you own is not the number of shares. i.e if you own 2600 units, you would only own about 1900 shares. The number of shares X $70 is what you would get. The stock is beign turned into cash. You will then have the option of rolling it over into inbev stock or an ira of your choice. Personally, I am NOT rolling it over into inbev. Their stock will tank untill they are able to cut the 1.6 billion dollars of waste at AB. That waste is us(employees). As per Brito, it will take them 3 years to do it. As for your outstanding loan, I think they take it of the top. You should speak to your HR manager. It will be interesting to see how screwed we get. Good luck to you.
October 23rd, 2010 at 6:15 pm
When it comes to snoozing, all I need is a fine bed and I’m all set!