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Memorandum MEMORANDUMTO: Manager FROM: Qifan Yao, Yaran Yang, AnalystsDATE: Oct 7, 2015SUBJECT: Recommendation of Selling BUDMy manager has asked me to prepare a memo comparing and contrasting Anheuser-Busch InBev NV (BUD) with its industry competitors. I picked Dr Pepper Snapple Group, Inc. (DPS), Boston Beer.