"It's easier for BlackRock to do things when people aren't thinking about it," Varlay said, adding that BlackRock "doesn't want to be anywhere on the radar."
The Saloon, a gay bar in downtown Minneapolis, will stop offering Anheuser-Busch products after the brand did not lean on the support of the LGBT community.
Anheuser-Busch released a statement last week in response to the backlash that the company faced earlier this year when one of its brands, Bud Light, partnered with transgender "influencer" Dylan Mulvaney.
Twenty armed Internal Revenue Service (IRS) and Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) agents carried out a raid at a gun store in Great Falls, Montana, seizing all documents that record buyer’s information during transactions.
The ill-fated collaboration with transgender-identified activist Dylan Mulvaney in a March Madness campaign has resulted in a substantial decline in Bud Light sales and a considerable drop in the company's stock price.