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   Strategies & Market TrendsSpeculating in Takeover Targets

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To: richardred who wrote (3119)9/16/2014 11:16:55 AM
From: richardred
   of 6848
New Buy today JVA -Coffee Holding Company, Inc.

FARM-Farmer Brothers worked out well for myself. JVA reported disappointing earning and the stock took a hit. IMO the reflected price at under 6 now represents some staying power till earnings improve. That reasoning based on the company's buy back program. I also like the China venture to open a coffee shop. If successful, it could maybe open the door for a poor mans Starbucks. I can only hope they hedge right going forward in coffee futures.

PR snip>"Also, during the past quarter, we purchased 99,815 shares of our own common stock at an average price of $6.59 in the amount of $657,536 under our previously announced share repurchase program pursuant to which we may purchase up to $1 million of our outstanding common stock. While we did not yet fully maximize the total dollar amount authorized by our board of directors, we continue to remain alert for future opportunities based on our evaluation of market conditions and other factors that may give rise to further repurchases," added Mr. Gordon.

P.S. Speculative appeal is also there IMO. I think Sysco or would be a good parent.

Joh. A. Benckiser to Buy Caribou Coffee for $340 Million ..

J.M. Smucker Completes Acquisition of Rowland Coffee

Mondelez and Douwe Egberts maker in coffee mega-merger
Mondelez will receive $5bn in cash and a 49pc stake in the combined business which will have $7bn of sales

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To: richardred who wrote (3570)9/16/2014 3:39:57 PM
From: richardred
   of 6848
VLCK/CNVR looks to be gone. What's left that's public in social media that not out in the outer limits? Why UNTD-United Online, Inc of coarse. IMO it fits with IDT corp. They just sold their cloud business Fabrix Systems for 95 million. Thinking about adding

What's most attractive about UNTD:
>The company remained debt free, and had cash and cash equivalents of $70.4 million, or $4.98 per diluted share, compared to $67.3 million at March 31, 2014.

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To: richardred who wrote (3746)9/16/2014 3:48:15 PM
From: richardred
   of 6848
RE- USEG FWIW- Well one of the family is leaving today.

8:31 am U.S. Energy announces retirement of President & COO Mark Larsen effective December 31, 2014; Larsen will remain in an advisory role during 2015 ( USEG) : The company plans to initiate a search for a Chief Operating Officer in the near term

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To: richardred who wrote (2439)9/16/2014 5:02:20 PM
From: richardred
   of 6848
Endo Delivers A Proposal To Acquire Auxilium Pharmaceuticals For $28.10 Per Share In Cash And Stock - Endo's Proposal Provides Auxilium Shareholders with Substantial Premium, Immediate Cash Value, and Ongoing Participation in Endo's Global Expansion
- Combination would Accelerate Endo's Transformation to Leading Specialty Healthcare Company, Expand Platform for Future Organic Growth
- Addition of Auxilium's Leading Men's Healthcare Products and Development Portfolio would Significantly Enhance Endo's Branded Pharmaceutical Business
- Expected to be Immediately Accretive to Endo's Adjusted Diluted EPS

Endo International plc 12 minutes ago

DUBLIN, Sept. 16, 2014 /PRNewswire/ -- Endo International plc ( ENDP) ( ENL.TO) today announced that it has delivered a proposal to acquire all of the outstanding shares of Auxilium Pharmaceuticals, Inc. ( AUXL) for a per share consideration of $28.10 in a cash and stock transaction valued at $2.2 billion.

Endo's proposal represents a premium of 31% to Auxilium's closing price on September 16, 2014 and a 40% premium to the average closing price of Auxilium shares for the previous 30 days. Under the terms of the proposal, the consideration would include an approximately equal mix of cash and Endo stock. Endo intends to fund the transaction through a combination of existing cash on hand and debt financing.

"Endo's proposal would provide Auxilium shareholders a substantial premium and immediate cash value for their investment in Auxilium, as well as the opportunity to participate in the upside potential of a leading global specialty healthcare company," said Rajiv De Silva, president and chief executive officer of Endo. "In light of the highly complementary nature of our two companies' commercial portfolios, the growth potential of Auxilium's Xiaflex® and the significant synergy opportunities, we believe this compelling strategic combination would result in and create benefits for both Endo and Auxilium shareholders, as well as for patients, customers and employees."

"This transaction is well aligned with Endo's strategy to pursue accretive, value creating organic growth opportunities," continued Mr. De Silva. "We expect that Endo's leading presence in men's health, combined with our R&D capabilities and considerable financial resources will accelerate the growth of Xiaflex® and Auxilium's other products, enhancing the value of the combined company's portfolio. Endo stands ready to engage immediately with Auxilium, complete our confirmatory diligence, negotiate a definitive agreement and complete this exciting transaction."

Strategic and Financial Benefits of a Combined Endo and Auxilium

Highly Complementary Portfolio to Maximize the Value of Auxilium's Commercial Products: Auxilium's 12 FDA approved products in urology, orthopedic and other areas are natural complements to the men's health and pain products in Endo's pharmaceuticals portfolio. Endo expects to drive increased adoption and enhance the performance of Auxilium's Xiaflex®, accelerate development of the product in potential new indications and optimize the broader portfolio of products at Auxilium. The combined company will be well positioned to drive organic growth and to capitalize on additional future strategic M&A opportunities.Significant Synergy Opportunities: Shareholders of the combined company are expected to benefit from significant synergy opportunities given the complementary nature of the companies' product portfolios and geographic locations. These synergies would be in addition to the $75 million reduction in annual operating expenses announced by Auxilium on September 9, 2014, as part of its new corporate restructuring initiative.Strong Financial Profile: Endo would continue to have a strong financial profile with a solid balance sheet, enhanced cash flow and improved financial flexibility to continue to execute the Company's strategy. In addition, Endo expects the transaction to be immediately accretive post close and meaningfully accretive in each year thereafter.Endo's proposal is subject to the completion of its due diligence review and the negotiation of mutually acceptable definitive transaction agreements containing customary closing conditions.

Endo executives will be discussing the proposed transaction with analysts and investors on a conference call at 5:15 p.m. ET today. The conference call can be accessed by dialing (877) 415 3186 (U.S. dial-in) or (857) 244 7329 (international dial-in) and the passcode is 46501825. A replay of the call will be available from September 16, 2014 at 9:15 p.m. ET until 11:59 p.m. ET on September 23, 2014 by dialing (888)-286-8010 (U.S./Canada) or (617)-801-6888 (international) and entering the passcode 61500777. Accompanying slides will be available on Endo's website. Endo will webcast the call to all interested parties through its website:

Citi is serving as financial advisor to Endo, and Sullivan & Cromwell LLP is serving as its legal advisor.

About Endo International plc

Endo International plc is a global specialty healthcare company focused on improving patients' lives while creating shareholder value. Endo develops, manufactures, markets, and distributes quality branded pharmaceutical, generic and device products through its operating companies. Endo has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern, PA. Learn more at


This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. This communication relates to a proposal which Endo International plc ("Endo") has made for a business combination transaction with Auxilium Pharmaceuticals, Inc. ("Auxilium"). In furtherance of this proposal and subject to future developments, Endo (and, if a negotiated transaction is agreed, Auxilium) may file one or more registration statements, prospectuses, proxy statements or other documents with the U.S. Securities and Exchange Commission ("SEC"). This communication is not a substitute for any registration statement, prospectus, proxy statement or other document Endo and/or Auxilium may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF ENDO AND AUXILIUM ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS, PROXY STATEMENT AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy statement (if and when available) will be mailed to stockholders of Auxilium. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by Endo through the web site maintained by the SEC at


Endo and certain of its directors and executive officers may be deemed to be participants in any solicitation with respect to the proposed transaction under the rules of the SEC. Security holders may obtain information regarding the names and interests of Endo's directors and executive officers in Endo Health Solutions Inc.'s ("EHSI") Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on March 3, 2014, and Endo's proxy statement for the 2014 Annual General Meeting of Shareholders, which was filed with the SEC on April 29, 2014. These documents can be obtained free of charge from the sources indicated above. Additional information regarding the interests of these participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will also be included in any proxy statement and other relevant materials to be filed with the SEC if and when they become available.


This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. These forward-looking statements include, but are not limited to, statements regarding Endo's offer to acquire Auxilium, its financing of the proposed transaction, its expected future performance (including expected results of operations and financial guidance), and the combined company's future financial condition, operating results, strategy and plans. Statements including words such as "believes," "expects," "anticipates," "intends," "estimates," "plan," "will," "may," "look forward," "intend," "guidance," "future" or similar expressions are forward-looking statements. Because these statements reflect our current views, expectations and beliefs concerning future events, these forward-looking statements involve risks and uncertainties. Although Endo believes that these forward-looking statements and information are based upon reasonable assumptions and expectations, readers should not place undue reliance on them, or any other forward looking statements or information in this communication. Investors should note that many factors, as more fully described in the documents filed by Endo with the SEC and with securities regulators in Canada on the System for Electronic Document Analysis and Retrieval ("SEDAR"), including under the caption "Risk Factors" in EHSI's Form 10-K and Endo's Form 10-Q and Form 8-K filings, as applicable, and as otherwise enumerated herein or therein, could affect Endo's future financial results and could cause Endo's actual results to differ materially from those expressed in forward-looking statements contained in this communication. Important factors that, individually or in the aggregate, could cause our actual results to differ materially from expected and historical results include, but are not limited to:

the ultimate outcome of any possible transaction between Endo and Auxilium, including the possibilities that Endo will not pursue a transaction with Auxilium and that Auxilium will reject a transaction with Endo;if a transaction between Endo and Auxilium were to occur, the ultimate outcome and results of integrating the operations of Endo and Auxilium, the ultimate outcome of Endo's operating strategy applied to Auxilium and the ultimate ability to realize synergies;the effects of the business combination of Endo and Auxilium, including the combined company's future financial condition, operating results, strategy and plans;if a transaction between Endo and Auxilium were to occur, our ability to achieve significant upside potential for shareholders by accelerating the growth of Xiaflex®, Testim® and other products? of the resultant combined company;our ability to sustain and grow revenues and cash flow from operations in our markets and to maintain and grow our customer base, the need for innovation and the related capital expenditures and the unpredictable economic conditions in the United States and other markets;the impact of competition from other market participants;the development and commercialization of new products;the effects of governmental regulation on our business or potential business combination transaction;the availability and access, in general, of funds to meet our debt obligations prior to or when they become due and to fund our operations and necessary capital expenditures, either through (i) cash on hand, (ii) free cash flow, or (iii) access to the capital or credit markets;our ability to comply with all covenants in our indentures and credit facilities, any violation of which, if not cured in a timely manner, could trigger a default of our other obligations under cross-default provisions; andthe risks and uncertainties detailed by Auxilium with respect to its business as described in its reports and documents filed with the SEC.All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirely by this cautionary statement. These forward-looking statements speak only as of the date hereof. Endo assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required under applicable securities law.

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To: richardred who wrote (3761)9/18/2014 9:35:40 AM
From: richardred
   of 6848
RE:Monsanto and Syngenta reportedly end merger talks

I wonder if it had to do with inversion or the seed controversy?

Monsanto sees controversy over GM seeds

The company has seen protests worldwide over its genetically modified (or GM) seeds. The protests are due to the seeds’ possible effects on human health. News reports in March said that France banned the sale, use, and cultivation of Monsanto’s MON 810 GM maize because of environmental concerns.

A June report said the European Union environmental ministers approved a proposal that would allow individual states to decide for themselves about growing GM crops. The anti-genetically modified organism (or GMO) movement is also in favor of passing laws. The laws would require food companies that use GMOs to appropriately label their products. The company’s main peers include Syngenta (or SYT) and DuPont (or DD).

Monsanto recently said it expects its controversial new GM soybean seeds to be approved in 2014. The seeds are herbicide-tolerant. A Wall Street Journal report said Monsanto could sell the seeds as early as 2016—pending the expected regulatory approvals. The report said the approval has taken time because of the opposition from environmentalists.

Monsanto and Syngenta reportedly end merger talks

News reports in June said that Monsanto and its Switzerland-based peer Syngenta were in preliminary talks about a merger. However, the negotiations were later abandoned. A combined entity would have created the world’s largest agrochemical company. It would have helped Monsanto benefit from lower taxes. The merger would have shifted its legal domicile to Switzerland.

After the news that the merger talks with Syngenta ended, Monsanto announced a new two-year $10 billion share repurchase authorization. It includes a $6 billion accelerated repurchase program.

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To: richardred who wrote (3755)9/18/2014 3:36:52 PM
From: richardred
   of 6848
Added to MCF today as it broke a new low.

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To: richardred who wrote (3668)9/18/2014 6:53:18 PM
From: richardred
   of 6848
SAP made another big move. Will it push HP into a move?

SAP Buys Concur Technologies for $8.3 Billion
By David Gelles September 18, 2014 5:49 pmSeptember 18, 2014 5:49 pm

SAP said on Thursday that it had agreed to acquire Concur Technologies, an enterprise software company based in Seattle, for about $8.3 billion.

Concur makes software that helps companies manage their employees’ travel and expenses, a growing market as international business travel continues to grow.

SAP will pay $129 a share for Concur, a 20 percent premium to Concur’s closing price on Wednesday, expanding the German technology giant’s suite of web services offerings.

“The acquisition of Concur is consistent with our relentless focus on the business network,” Bill McDermott, chief executive of SAP, said in a statement. “We are making a bold move to innovate the future of business within and between companies.”

Acquiring Concur is the latest big deal by SAP, which agreed to buy Ariba, a business-to-business marketplace, for $4.3 billion in 2012. Earlier this year, SAP acquired Fieldglass, which helps companies manage contract employees. SAP has a market value of nearly $100 billion.

“With Ariba, Fieldglass and Concur, SAP is the undisputed business network company,” said Mr. McDermott. “We are redefining how businesses conduct commerce across goods and services, contingent work forces, travel and entertainment.”

Concur is one of the companies to survive the original dot-com boom. Founded in 1993 and taken public in 1998, Concur reported $546 million in revenue for the last full year, continuing a run of sharp sales increases. The company is on track to record $700 million in revenue this year, SAP and Concur said on Thursday.

“We have always been focused on making solutions for real customer problems, and with SAP we have a great opportunity to advance that mission,” Steve Singh, the chief executive of Concur, said in a statement. “We are constantly seeking innovative ways to deliver the best customer experience and we’re excited about leveraging SAP technology,” he added, “as we scale globally.”

Concur shares have risen sharply since the financial crisis but have been essentially flat since the start of the year even as the broader market has risen. The sale will mark a tidy profit for American Express, the credit card company, which owns 13.5 percent of Concur.

Deutsche Bank advised SAP, and Qatalyst, the boutique investment bank founded by Frank Quattrone, advised Concur.

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To: richardred who wrote (3767)9/18/2014 6:55:24 PM
From: richardred
   of 6848
SAP 8 Billion deal, IMO will help the speculative appeal of TDC.
Message 29356456
Message 29373608

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To: richardred who wrote (3777)9/18/2014 9:21:00 PM
From: richardred
   of 6848
What timing, the day SAP makes a big acquisition.

Larry Ellison Steps Down: Succession Done Well

Sep 19 2014

Founders always have a very hard time giving up their roles as CEO.

Look at pioneering technology founders like Bill Gates of Microsoft, Andy Grove of Intel, Larry Page and Sergey Brin of Google and Mark Zuckerberg of Facebook. Each held (or still hold) onto their companies as long as they possibly can.

Why? Because successful founders define their identity around their company and often single handedly create the culture, product strategy, and marketing vision that drives success. I have personal experience in this area, so I completely understand the dynamic.

This week one of the most iconic and successful CEOs in our time, Larry Ellison, announced his decision to step down from his direct operational role running Oracle. For those of us who have been in the technology industry for years, the story of Oracle is amazing.

This company started as a small scrappy pioneer in the relational database industry back in 1977 (before relational databases were really popular). The company popularized the use of SQL for mainstream programmers and as the database industry exploded with growth, won the "database wars" against Sybase, IBM, Ingres, and Informix in the 1980s. Under Ellison's leadership, Oracle built an entire ecosystem of Oracle tools, professional developers, and applications over the years. From the very early days, Oracle essentially invented the "multi-platform" database and developed strong relationships with every major hardware manufacturer in computing (eventually acquiring Sun, one of its best partners). Ellison learned quickly that in addition to having a good product, the company needed to "own a market" by running on every platform imaginable.

As the database industry become bigger and Oracle's growth slowed, he aggressively moved the company into business application software, eventually buying a slew of applications companies to make Oracle one of the world's leaders in business software. As I followed Oracle over the years (as both a competitor, software executive, and analyst) I always marveled at Ellison's ability to spot a trend and then jump into a market when it became big, popular, and ready for global growth. Today Oracle is dominant in almost every major business software category and the company never slows down in its relentless efforts to own a market segment and penetrate large corporate accounts.

Over these 30+ years Ellison has always been a smart, aggressive, and somewhat controversial leader. Analysts believed Oracle was behind on the cloud, until Ellison made a series of announcements (Oracle 8i, 9i, 10i) which convinced the world that Oracle's products were no made for the web. While Oracle is not always first to market as technology changes, the company is an amazingly fast follower and Ellison has an amazing ability to rapidly push the company into new markets right as these markets become large. In my particular marketplace, Oracle went from a relatively small player in Human Capital software to suddenly becoming the #1 market share player through the acquisition of PeopleSoft and Taleo over the last ten years.

Ellison's decision to acquire Sun, Siebel, BEA Systems, and many other companies demonstrates his ability to deeply understand technology markets and pounce when the time is right, even when Oracle itself may not be able to innovate fast enough. In many ways Ellison's strategy has always been "if we can't develop software to be #1 in the market, we will buy the #1 in the market." This has worked again and again.

I remember meeting Ellison in the 1980s when I worked for IBM and saw his charisma up close. At that particular time IBM was rapidly growing its business in distributed unix computing systems and badly wanted Oracle to port its product to IBM's version of Unix, called AIX. Ellison painted such a compelling picture of Oracle 7 (it didn't really exist yet) to the IBM executives that IBM decided to invest heavily in Oracle and later developed a strong business partnership to help Oracle port its software to the IBM platform.

The interesting thing about this relationship is that for many years IBM and Oracle competed aggressively in the database industry, so while one part of IBM was partnering with Ellison, another part considered him a tremendous rival. IBM scientists were some of the original inventors of the SQL language and IBM executives always felt that they deserved the right to that market. Oracle did a much better job of building the right products, porting to multiple platforms, and aggressively marketing and selling the database - leaving IBM as a small player in the relational database industry.

I had the opportunity to work for one of Oracle's bitter rivals in the early 1990s (Sybase) and we always worried that Oracle would eventually "figure out" what we were doing. When they finally did, Oracle quickly and aggressively started to outsell us (pushing a story that "Sybase couldn't scale") and eventually forced Sybase to shift its product strategy away from enterprise database toward mobile and middleware products. While I never knew how much Ellison was involved, I'm sure he was beating the drum behind the scene and knew that Sybase represented an existential threat, firing up his competitive energy. Despite our best efforts to beat Oracle in the database market with new and better technology, Sybase lost that battle and eventually the war. Now SAP (who owns Sybase) can fight the battle by investing in Hana and Sybase to compete with Sun and Oracle.

Ellison's tremendously strong technology background and deep understanding of enterprise software makes him hard to beat -- and most of his competitors have either gone out of business or simply become part of Oracle after an acquisition.

This announcement is significant for several reasons. First, of course, it means that Larry Ellison will be less involved in the day-to-day operations of Oracle. But more significantly, it shows that Oracle is now mature enough and smart enough to build a long term succession plan for Ellison himself. Mark Hurd and Safra Catz, both of whom have worked for Oracle for many years now, are running the company -- and Ellison is going to play the role of chief technology officer. This puts Larry where he fits best: watching the product strategy, observing market trends, and pushing Oracle to aggressively move when the time is right.

In many ways this is the end of an era. If Ellison truly decides to step away from the company, a new breed of software leader(s) will have to emerge, and Oracle has plenty of people to take his place. To me, as someone who has grown up across the bay from Oracle and still works closely with Oracle in the human capital market, I expect the company will continue to thrive. While Oracle has plenty of challenges (as does every technology company), he has taken the time to groom new operational leaders to take his place. He has been an exceptional leader and we have all watched him grow and evolve as Oracle continued to grow.

For business people, the lessons show that sometimes strong multi-functional founders can thrive for many years. So while many companies try to replace founders at some time, in Oracle's case Ellison has been instrumental in the company's success for decades. For HR and other people, the story shows that even the strongest CEOs need a succession plan, and it often takes years to develop and groom successors that can succeed. In this case Ellison has been friends with Mark Hurd for many years and it would not be suprising to hear that this transition has been in the works for a long time.

I personally have always found Oracle to be an impressive, trend-setting company, despite its sometimes overly aggressive sales and marketing approach. The company's products are eminent around the world in almost every market, and we hope that Oracle's success continues through this transition. There are a lot of lessons to learn and stories to be told, and now that Ellison is in the chairman role it will be interesting to see how the new top executives evolve Oracle as the market for enterprise software gets hotter than ever in the cloud. SAP, Workday, Salesforce, and dozens of other fast-growing vendors now have young, aggressive leaders - Oracle is now ready to do the same.

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To: richardred who wrote (2751)9/20/2014 8:33:52 AM
From: richardred
   of 6848
My daughters favorite beer PBR, and around here a favorite among new legal age drinkers. I don't see how this deal can go through the FTC successfully. This with the Obama's administration ban on Russian trade.

Pabst Brewing to be sold to Russian company
Bruce Horovitz, USA TODAY 5:50 p.m. EDT September 19, 2014

(Photo: Rene Alston, USA TODAY)


Pabst Blue Ribbon — a sub-premium beer brand that embraced savvy marketing to stay relevant in a craft beer age — has been sold, along with its parent, Pabst Brewing Co., to Russian company Oasis Beverages.

The companies declined to disclose the sale price, but beverage industry analysts estimate the sale at nearly $750 million — a figure nearly three times the estimated $250 million that C. Dean Metropoulos & Co. paid for it in 2010. Oasis Beverages' partner in the purchase is TSC Consumer Partners, a consumer products company that will take a minority stake Pabst.

Besides the familiar Pabst Blue Ribbon label, Pabst Brewing Co. makes Colt 45, Old Milwaukee and Schlitz. It also makes regional brews such as Lone Star, Rainier and Old Style.

The sales comes at a time the U.S. and the global beer industries both are dynamically evolving. In recent years, foreign beer makers have been gobbling up the big U.S. beer brands. At the same time, craft beers have become the industry's fastest-growing sector. Craft beer in the U.S. has 7.8% market share, up from about 4.9% in 2010, reports All About Beer Magazine, the nation's oldest beer consumer magazine.

Even in that environment, Pabst — a lower-priced brand that is anything but craft — has still managed to ratchet-up its popularity with the trend-setting, Millennial beer drinker.

"Pabst very successfully targeted hipsters looking for alternative brand choices," says Chris Rice, president and publisher of All About Beer Magazine. "There's a lot of crossover between the Pabst brand and craft beer drinkers."

Never mind that few other sub-premium brands have had much luck with Millennials.

Pabst Brewing has an iconic past and many baby boomers still recall the familiar, shouted slogan from its 1950s-era commercials: "What'll You Have? Pabst Blue Ribbon."

More recently, Pabst Brewing has embraced pop culture. In 2011, comedian Will Ferrell showed up in its Old Milwaukee beer ads, and in 2010, hip-hop icon Snoop Dogg starred in a Blast by Colt 45 commercial.

Pabst was acquired in 2010 by C. Dean Metropoulos & Co., which is known for investing in food brands, including Twinkie maker Hostess.

Pabst Brewing traces its roots back to 1844 in Milwaukee. Pabst Blue Ribbon in particular has also grown in popularity among people in their 20s and 30s in part for its blue-collar and retro appeal, as well as for its cheap price.

Still, Pabst accounts for less than 3% of the U.S. beer market, said Eric Shepard, executive editor of Beer Marketer's Insights, an industry tracker. He also noted that many of the most popular beers in the U.S. are already owned by foreign companies. Anheuser-Busch InBev, which makes Budweiser and Bud Light, is based in Belgium.

In a statement, Oasis Chairman Eugene Kashper called Pabst Blue Ribbon the "quintessential American brand — it represents individualism, egalitarianism and freedom of expression — all the things that make this country great."

Kashper will serve as CEO of Pabst Brewing, which will keep its headquarters in Los Angeles.

Contributing: Associated Press

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