Yahoo chairman Roy Bostock says that if Microsoft had handled itself the way InBev did, buying Anheuser-Busch for $52 billion even after A-B rejected an initial offer, Yahoo and Microsoft would probably be one company by now. "InBev was a classic, perfectly managed takeover," said Bostock.

Anheuser-Busch spent $134 million of its $1.3 billion marketing budget advertising Budweiser last year. Just 3 percent of that — $3.9 million — got spent online. Now that Belgium's InBev has acquired Anheuser-Busch for $52 billion, can we expect much change? In a word, no. Why? For one, A-B's current marketing strategy — TV spots against late-night shows and sports — works to sell suds. It'll be tough convincing even the company's new owners to fix what's not broken.

• The Federal Reserve and U.S. Treasury will inject billions of dollars into Fannie Mae and Freddie Mac to shore up the mortgage financing giants. [WSJ]

• Lehman's stock price took a beating once again yesterday, this time amid chatter that Pimco and SAC Capital were pulling business from the bank. [WSJ, NYP]
  

• The Weather Channel was sold by Landmark Communications to NBC Universal, Bain Capital, and Blackstone for just under $3.5 billion. [NYT]

• An upgrade from Morgan Stanley is expected to help out Lehman's stock price, which fell 11 percent yesterday amid talk of a firesale. [Reuters]

• InBev may need to raise its offer for Anheuser-Busch by $7 billion to win over the company's board. [Bloomberg]

• Anheuser-Busch will reject InBev's $46.4 billion takeover bid. [Reuters]