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Cindy McCain May Reap Benefits of Anheuser-Busch Bid (Update1)

By Jonathan D. Salant and Kristin Jensen

June 13 (Bloomberg) -- Cindy McCain, the millionaire wife of presumptive Republican nominee John McCain, may see her fortune increase with a proposed takeover of beermaker Anheuser- Busch Cos., financial disclosures show.

Cindy McCain, who has assets of at least $8.5 million, owned more than $1 million of Anheuser-Busch shares at the end of last year, according to a Senate disclosure form filed by her husband and released today. News of the $46.3 billion unsolicited bid from InBev NV has sent the company's shares soaring, up about 17 percent from Dec. 31.

The exact size of the potential windfall is unknown because the financial forms require lawmakers and their spouses to list only ranges for the values of their assets, and one option is to simply say ``over $1 million.'' Messages left with McCain's Senate office and campaign weren't returned.

InBev made the $65-per-share offer for the maker of Budweiser beer on June 11, and Anheuser-Busch said it would consider the bid. A transaction would unite Budweiser, the lager first brewed 132 years ago in St. Louis, with InBev's Stella Artois, Bass and more than 200 other brands.

Cindy McCain also owns a beer distributorship, Hensley & Co., worth more than $1 million. She reported liabilities of between $2.8 million and $5.5 million, owing money on King Aviation, the private jet company whose planes were used by her husband during the campaign, as well as construction, credit and promissory notes.

McCain Assets

John McCain's only assets were a checking account and money market account, valued at $16,000 to $65,000, two joint checking accounts worth between $2,000 and $30,000, and his Navy pension of $58,358. He received $176,508 in book royalties, which he donated to charity.

Because Arizona Senator McCain is running for president, the U.S. Office of Government Ethics required his wife to liquidate her blind trust since it was set up under Senate rules, not executive branch requirements. Among her stock holdings were CBS Corp. and General Electric Co., which own two of the four major television networks, Exxon Mobil Corp., and Goldman Sachs Group. New York Senator Hillary Clinton faced a similar requirement during her presidential campaign.

Cindy McCain last month released two pages of her 2006 tax returns, showing income of $6.1 million, including $4.6 million from real estate. She hasn't filed her 2007 returns. The McCains keep their finances separate and file separate returns.

Obama Assets

McCain, 71, will be taking on presumptive Democratic nominee Barack Obama, 46. Obama, an Illinois senator, also filed a disclosure form that showed he and his wife Michelle had assets of $2 million to $7 million at the end of last year, mostly in bank accounts and mutual funds. One money market account was worth as much as $5 million.

The Obamas, who have two daughters, also bought into two college savings plans in transactions worth between $100,000 and $250,000 each, according to the disclosure form.

Among Senate leaders, Senate Majority Leader Harry Reid of Nevada reported land holdings and mineral claims of between $1.1 million and $2.5 million. The head of the Senate Republicans, Mitch McConnell of Kentucky, reported owning a Washington home valued between $1 million and $5 million, and renting out a carriage house on the property. McConnell received a crystal sculpture, valued at $500, from the American Ireland Fund.

Ensign and Schumer

The chairman of the Senate Republicans' fundraising organization, John Ensign of Nevada, is part of a real estate partnership that owns property valued at between $1 million and $5 million. He also netted $250,000 to $500,000 as partial payment for the sale of his veterinary practice.

His Democratic counterpart, Charles Schumer of New York, received $94,000 in book royalties. Foreign Relations Committee Chairman Joe Biden of Delaware got a $112,500 book advance, and reported $15,000 to $50,000 in college loans for his son. Senator Jim Webb of Virginia received $319,419 in royalties, $250,000 of which came from William Morris Agency and Time Warner Inc.'s Warner Brothers Entertainment Inc. for his services as a producer and $36,171 from his Writers Guild pension.

Senator John Thune of South Dakota was a popular dining companion. He agreed to have lunch or dinner with the winning bidder at six auctions last year.

Senator Jim Bunning of Kentucky, a former Major League Baseball pitcher and member of the Baseball Hall of Fame, earned $61,631 from appearances at card shows and from signings. That's up from $50,664 in 2006.

Senate Finance Committee Chairman Max Baucus of Montana reported buying and selling shares of Qwest Communications International Inc., JPMorgan Chase & Co., and Lockheed Martin Corp. He made less than $201 in capital gains for each transaction.

Senator Ted Stevens of Alaska, under federal investigation, reported liabilities of $15,000 to $50,000 in legal fees.

To contact the reporters on this story: Jonathan D. Salant in Washington at jsalant@bloomberg.net; Kristin Jensen in Washington at kjensen@bloomberg.net.

Last Updated: June 13, 2008 14:41 EDT

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