The share repurchasing plan is mentioned in their quarterly SEC filing from August 14, which states:
"During the second quarter of 2002, Panamco repurchased 914,600 shares for a total amount of $15.7 million (including commissions) under its 2002 Share Repurchase Program. We expect to continue to repurchase shares and to increase the size of the 2002 Share Repurchase Program in the third quarter of 2002."
Personally, I agree with you guys. I don't envision any type of takeover, and certainly not a successful one. In my opinion, this would be a highly risky and foolish move by SABMiller and one Panamco would never consider.
Still though, very good information to have. Glad it was helpful.