Monday, 14 July 2008

Anheuser-Busch and InBev Seal the Deal

Not yet official, but according to anonymous sources:
U.S. brewer Anheuser-Busch Cos Inc agreed to a $50 billion takeover by Belgium-based InBev NV, a source familiar with the situation said on Sunday, creating the world's largest beer maker...

The combined company will be called Anheuser-Busch InBev, said the sources, who agreed to speak on condition of anonymity. Anheuser will get seats on the new company's board, the sources said, but it was not immediately clear how many.

Wall Street Journal coverage here:
The $70-a-share deal marks an abrupt end to what many expected to be a prolonged takeover drama. For weeks, Anheuser showed stiff resistance to a sale. But last week, InBev, based in Leuven, Belgium, drew its St. Louis rival into friendly discussions by increasing its original cash offer by $5 a share...

The combination of InBev and Anheuser, along with the recently formed MillerCoors LLC, would together control about 80% of beer sales in the U.S., the world's largest beer market in terms of profit.

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